RBI increases UPI payment limit from Rs 1 lakh to Rs 5 lakh

RBI increases UPI payment limit from Rs 1 lakh to Rs 5 lakh

Daily Current Affairs   /   RBI increases UPI payment limit from Rs 1 lakh to Rs 5 lakh

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Category : Business and economics Published on: August 10 2024

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  • RBI has increased the UPI payment limit to Rs 5 lakh, from Rs 1 lakh earlier, to facilitate large transactions.
  • RBI Governor Shaktikanta Das informed that the UPI user base has reached 42.4 crore and the decision has been taken in view of the growing popularity of digital payments.
  • UPI transactions have registered a 45 percent annual growth, and the total transaction value has reached Rs 20.64 trillion, exceeding Rs 20 trillion in the last three months.
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