🐘 India 🇮🇳: UPI payment system transaction limits by segments

🐘 India 🇮🇳: UPI payment system transaction limits by segments

As UPI is widely used for a broad range of payments, from small to large, transaction limits can vary depending on the segment.

▶️ The general UPI transaction limit, set by the National Payments Corporation of India (NPCI), is 100,000 rupees per transaction (1,190 USD). However, different banks may impose lower limits, ranging from 297 USD to 1,190 USD.

▶️ The State Bank of India (SBI), along with private banks ICICI Bank, HDFC Bank, and Axis Bank, has set a limit of 1,190 USD. In contrast, Punjab National Bank has a lower limit of 595 USD.

▶️ For new UPI users—regardless of the bank—the daily transaction limit is 60 USD during the first 24 hours. A relatively modest start...

▶️ UPI apps (like Google Pay, Paytm, and Amazon Pay) have set a daily limit of 1,190 USD. Additionally, up to 10 transactions can be made in total across all UPI apps and bank accounts.

▶️ For payments to educational institutions, the allowed transfer limit is up to 5,950 USD.

▶️ In the context of healthcare and hospitals, a similar limit of 5,950 USD applies.

▶️ Fun fact: In India, a unique numbering system is used. Large numbers in original sources are often expressed using terms like “lakh” and “crore”. A lakh equals 100,000 (or 1/10th of a million), and 100 lakhs make up a crore (10 million). Sometimes, large sums are described as combinations, such as lakh-crore, which equates to a trillion.
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