There is good news if you also use UPI Payment. The use of UPI for financial transactions has become fairly widespread in the present. Do you know how many rupees you may transfer in a day in the midst of all this? We utilize UPI to send even little transfers of 10 rupees.
The limit of all banks is different-
Let us inform you that this restriction varies for clients of each bank. Therefore, customers of all banks, including SBI, ICICI Bank, and HDFC, receive varying transactional limits.
Let’s check which bank’s UPI Limit –
>> If you are an SBI customer, you can conduct one lakh rupees worth of transactions over UPI daily.
>> Customers of HDFC Bank can also conduct transactions up to Rs 1 lakh, although this limit is only Rs 5000 for brand-new clients.
>> Customers of ICICI Bank can conduct UPI transactions up to a maximum of Rs 10,000, although this cap is Rs 25,000 for Google Pay users.
>> Customers of the Bank of Baroda can make transactions up to Rs 25,000.
>> Customers of Axis Bank can also conduct transactions up to Rs 1 lakh.
RBI is making this plan-
Let us inform you that the RBI is currently developing a new UPI payment strategy. The Third Party App Providers (TPAP) in India will soon have a volume cap of 30%, according to the National Payments Corporation of India (NPCI). In this regard, meetings are being held with the Reserve Bank of India.
Customers can first run into issues because companies like Phone Pay, Google Pay, and Paytm can only establish their limit after gaining RBI authorization. How much of a limit will be imposed on this is not yet clear.