Daily cap for person-to-merchant payments via UPI raised to Rs 10 lakh in key sectors from September 15
MUMBAI: The National Payments Corporation (NPCI) has said the daily transaction limits for person-to-merchant (P2M) payments through the ubiquitous unified payments interface (UPI) will be hiked from Rs 5 lakh to Rs 10 lakh in key sectors from September 15. However, the daily limit for person-to-person (P2P) payments remains unchanged at Rs 1 lakh per day.
The move is aimed at allowing larger commercial payments for categories such as insurance, capital markets and travel.
