UPI users can now send Rs 5 lakh for some transactions: Check details

The National Payments Corporation of India (NPCI) has increased transaction limits for tax payments using Unified Payments Interface (UPI), allowing people to transfer Rs 5 lakh in a single transaction starting Sunday.

“Acquiring entities must ensure that the classification of their merchants within MCC-9311 strictly adheres to the tax payments only….Merchants shall ensure UPI as a payment mode is enabled for the increased limit for the tax payments category,” said NPCI in a circular.