RBI has increased UPI transaction limit to up to Rs 5 lakh for these payments

The Reserve Bank of India (RBI) announced on Thursday (August 8) an increase in the Unified Payments Interface (UPI) transaction limit for tax payments. The new limit stands at Rs 5 lakh per transaction, a significant jump from the previous limit of Rs 1 lakh. According to RBI governor Shaktikanta Das, the increase limit will “further ease tax payments by consumers through UPI.”