News Karnataka
Thursday, February 09 2023
Finance

Limit set for UPI transactions in India

Photo Credit : Facebook

New Delhi: Now everyone has smartphones in their hands. In the same way, there is a bank account. Nowadays people mostly do their banking transactions online. But most people do not know how much money they can transfer in a day.

Recently, as smartphones are in everyone’s hand, the number of people doing bank transactions through online has also increased. Especially UPI based applications like Google Pay, Amazon Pay, Paytm and Phone Pay are widely used.

However, now you can only transfer a certain amount per day through these apps. This is because NPCI has imposed a limit on the payment.

The company has now fixed the limits for UPI payments. Payment can be made up to 1 lakh only through UPI apps. Many users use Google Pay for online payments. Through this app you can make payments to others up to 1 lakh rupees per day. And you can pay as many times as you want.

According to NPCI, one can send Rs 1 lakh to others on Paytm as well. But in this only 20,000 rupees per hour can be sent. In this way minimum 5 transactions and maximum 20 transactions per hour can be done.

The users can also make financial transactions up to Rs. 1 lakh. A user can transfer only Rs. 1 lakh through Amazon Pay. However, the amount you can transfer depends on the bank you have. Thus, each bank has a different payment method.

Nowadays bank transactions are done online rather than offline as they save time. All those who have bank account can now use UPI methods.

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