Daily UPI Transaction Limits Set By Banks (SBI, ICICI, HDFC, Canara) And UPI Apps (Amazon Pay, GPay)

Unified Payments Interface (UPI) is an instant real-time payment system developed by National Payments Corporation of India (NPCI) facilitating inter-bank peer-to-peer (P2P) and person-to-merchant (P2M) transactions. The interface is regulated by the Reserve Bank of India (RBI).

UPI transaction limits are set by the NPCI and can vary depending on the bank and the type of transaction. The daily limit for P2P transactions is ₹1 lakh, while the daily limit for P2M transactions is ₹2 lakh. These limits can be increased by contacting your bank.

There are a few reasons for UPI transaction limits. One reason is to protect users from fraud. Another reason is to ensure that the UPI system can handle the volume of transactions.

If you need to make a payment that exceeds the daily limit, you can contact your bank to request an increase. You can also use other payment methods, such as credit cards or debit cards.

Here are some of the benefits of UPI limits:

• Security: UPI limits help to protect users from fraud. By limiting the amount of money that can be transferred in a single day, UPI makes it more difficult for fraudsters to steal money from users.
• Scalability: UPI limits help to ensure that the UPI system can handle the volume of transactions. By limiting the number of transactions that can be processed in a single day, UPI helps to prevent the system from becoming overloaded.
• Fairness: UPI limits help to ensure that all users have fair access to the UPI system. By limiting the amount of money that can be transferred in a single day, UPI prevents users from abusing the system.

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