UPI limits hiked to Rs 5 lakh for major categories

MUMBAI: The National Payments Corporation of India (NPCI) has raised transaction ceilings on the UPI for use in capital market and other merchant categories, widening the platform's usage from small-value transfers to higher-value commerce.

Peer-to-peer transfers remain capped at Rs 1 lakh, but payments to merchants now carry far higher limits.

For capital markets, insurers, government e-marketplace deposits, travel, credit-card bills and collections, the ceiling has risen five-fold to Rs 5 lakh per payment, with daily caps of Rs 10 lakh-Rs 6 lakh for credit cards.