India’s central government has given a big gift to online shoppers in the new year. The government has increased the limit for UPI payments from ₹1 lakh to ₹5 lakh. This means that you can now pay up to ₹5 lakh in a single UPI transaction.

The National Payments Corporation of India (NPCI) and the Reserve Bank of India (RBI) worked together to make this change possible. The new limit will apply to payments to hospitals and educational institutions as well as other merchants.

This is a major change that will make it easier for people to pay for large purchases online. It will also help to boost the growth of India’s digital economy.

The Indian government has announced a major change to the Unified Payments Interface (UPI) payment system. The new limit for UPI payments will increase from ₹1 lakh to ₹5 lakh. This means that you can now pay up to ₹5 lakh in a single UPI transaction.

The change was announced by the National Payments Corporation of India (NPCI) and the Reserve Bank of India (RBI). It will take effect on January 10, 2024.

The new limit will apply to payments to all merchants, including hospitals, educational institutions, and other businesses. However, there are some restrictions. The payments must be made to verified merchants, and they must be made within the same day.

The increase in the UPI payment limit is a major boost for the digital economy in India. It will make it easier for people to make large payments online, such as tuition fees, medical bills, and other major expenses.

UPI is a popular payment system in India. It is used by millions of people every day to make payments for a variety of goods and services. The system is easy to use and secure, and it is available on a variety of devices, including smartphones, tablets, and laptops.

The increase in the UPI payment limit is a sign of the growing popularity of digital payments in India. It is also a sign of the government’s commitment to promoting the use of digital payments.

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