RBI Policy
NPCI can revise UPI transaction limits; to consult stakeholders
This story was originally published at 13:01 IST on 9 April 2025
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MUMBAI – The National Payments Corp. of India may revise limits on transaction made by unified payment interface, the Reserve Bank of India Governor Sanjay Malhotra said while announcing the outcome of the Monetary Policy Committee's April meeting. He said necessary directions for the implementation of the measure shall be issued separately.
The NPCI can revise such limits in consultation with banks and relevant stakeholders so that the UPI ecosystem responds efficiently to new use cases, a press release by the RBI read. "Appropriate safeguards will be put in place to mitigate risks associated with higher limits," the release by the RBI said. "Banks shall continue to have the discretion to decide their own internal limits within the limits announced by NPCI."
The central bank further said the person-to-person UPI transactions will continue to be capped at INR 100,000, and "NPCI will be advised accordingly". At present, most UPI transactions for both person-to-person and person-to-merchant transaction are capped at INR 100,000, except in certain cases where the limit for person-to-merchant payments was INR 200,000 in some cases and INR 500,000 in others.
In March, transactions via UPI jumped to a record high of 18.30 billion, rising 36% on a yearly basis. The value of such transactions also increased to a record high of INR 24.77 trillion, up 25% on year. In 2024-25 (Apr-Mar), INR 260.47 trillion worth of UPI transactions were recorded. End
Reported by Sourabh Kumar
Edited by
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