There can be a big change in UPI. NPCI is currently discussing with RBI to impose a limit on its transactions. The transaction limit can be up to 30 percent.
UPI Transactions Limit : UPI has become an important medium of online transactions. A large population of the country uses it. But very soon there can be a big change in this. According to media reports, the National Payments Corporation of India may set a limit for the service of UPI payments. The limit of transaction can be up to 30 percent. NPCI is currently discussing this with the Reserve Bank of India (RBI). NPCI is likely to announce its decision on the matter after December 31.
No decision yet
Explain that UPI is a third party operated platform. For which NPCI had proposed to RBI in November this year to impose a 30% transaction limit on UPI to avoid monopoly risk. At present, RBI has not taken any decision in this matter, but discussions are on.
NPCI can announce this month
According to information received from the sources, a meeting has also been called to discuss the matter comprehensively. During this, senior officers of the Ministry of Finance, RBI and officials of NPCI were also involved, but no decision was taken in this regard. On the other hand, the market share of Google Pay and Phone Pay has increased to 80%. It is being said that in view of the threat of third party app providers and after getting approval from RBI, NPCI may give a decision to limit UPI transactions by the end of this month.
