UPI Trading Limits 2022 Overview! :- www.deekpay.com

UPI Trading Limits 2022 Overview!

Unified Payment Interface (UPI) is a modern payment solution developed by National Payments Corporation of India (NPCI) for cash payments.

It allows users to make payments to different merchants through one mobile app and supports multiple bank accounts. The app was initially launched on 11 April 2016 by former Reserve Bank of India Governor Dr Raghuram Rajan.

1. What are the amounts and general limits for transfers through UPI?

2. What are the respective limits of UPI partner banks?

3. Introduction to the UPI autopay function.

4. Payment limits for BHIM applications.

5. New provisions for the transfer of UPI funds.

What are the amounts and general limits for transfers through UPI?

Theoretically, UPI transactions have a limit of Rs 100,000 per transaction and 20 transactions can be made per day. The maximum amount of payment that can be made through UPI varies from bank to bank and is listed in the table below.

respective limits of UPI co-operative banks:

The top 15 banks are listed below to get an idea of the daily and per-transaction limits.

| Serial No. | Bank Name | Limit per transaction (INR) | Daily limit (INR) | Weekly limit | Monthly limit |

| — | ——- | —————— | ————– | ——- | ——- |

| 1 | Axis Bank | 100,000 | 100,000 | NA | NA |

| 2 | Bank of Maharashtra | 10,000 | 20,000 | NA | NA |

| 3 | Bank of Baroda | 25,000 | 50,000 | NA | NA |

| 4 | Canara Bank | 100,000 | 100,000 | NA | NA |

| 5 | CitiBank | 100,000 | 100,000 | NA | NA |

| 6 | Federal Bank | 100,000 | 100,000 | NA | NA |

| 7 | HDFC Bank | 100,000 | 100,000 | NA | NA |

| 8 | ICICI Bank | 10,000 | 10,000 | NA | NA |

| 9 | IDBI Bank | 25,000 | 50,000 | NA | NA | NA |

| 10 | Kotak Bank | 25,000 | 50,000 | NA | NA | NA |

| 11 | Punjab National Bank | 100,000 | 100,000 | NA | NA |

| 12 | State Bank of India | 100,000 | 100,000 | NA | NA |

| 13 | Standard Chartered Bank | 100,000 | 100,000 | NA | NA |

| 14 | Union Bank of India | 100,000 | 100,000 | 5,00,000 | 20,00,000 |

| 15 | Yes Bank | 100,000 | 100,000 | NA | NA |

UPI autopay:

UPI Autopay is a unique feature that allows users to automatically make recurring payments of up to Rs. 5000 such as subscription or electricity bills. This feature will automatically deduct the respective amount every month without the need for UPI Pin verification.

Payment limits for BHIM applications:

The BHIM app has a daily transaction limit of Rs. 40,000, which cannot be exceeded in a single payment on a single day.

New rules on UPI fund transfers:

UPI transactions are free for all users. The volume of UPI transactions doubled after the demonetisation of the currency. With increased digitisation, people started preferring to use UPI transactions instead of carrying cash.

Conclusion:

There are certain restrictions on the daily limit when making payments through UPI. This results in users having to wait until the next day to make a transaction. They can use other modes of payment.NPCI is yet to increase the transaction limit, even if requested by the bank.

With the increase in UPI transactions, NPCI may look at increasing the transaction limits and transaction amounts in the near future.NPCI has allowed banks to set their own transaction limits up to a limit of Rs 10 lakh set by NPCI.

Can I transfer Rs 50,000 through UPI? Yes, users can transfer Rs. 50,000 through UPI app as per the transaction limit of their bank or payment service provider. For example, the BHIM app has a daily transaction limit of Rs. 40,000 only. What is the maximum amount of payment that can be made through UPI? As per NPCI, the maximum payment amount that can be made through UPI is Rs 100,000 per day.What is the maximum limit for UPI transactions? While the daily transaction limit allowed varies from bank to bank as shown in the table above, some smaller banks such as Canara Bank allow a transaction limit of only Rs 25,000 per day. Also, co-operative banks allow lower transaction limits, mainly between Rs. 25,000 and Rs. 50,000. How much money can be transferred through UPI? Users can transfer only the amount within the limit set by the bank and NPCI through UPI. If there is a need to send more than that amount, different UPI payment apps and bank payment methods can be used to utilise the maximum possible transaction limit.