The UPI system of India has enabled high value transactions, enabling users to pay up to £ 10 lakh per day for investments, insurance, travel, credit cards and jewelry, which starts today. It is at the same time the P2P “Collect Squery” function from October to prevent fraud. The move, provided by the National Payments Corp. Whether India (NPCI) has been announced is aimed at making high value-person-to-earnings (P2M) payments faster and reducing the dependence of slower channels such as checks. For capital markets and insurance, the per transaction limit doubled to £ 5 lakh of £ 2 lakh, with a daily cap increased to £ 10 lakh. The same limits now apply to government-e-market transactions, travel bookings, loans and EMI repayments. Credit Card account payments can now be made to £ 5 lakh per transaction, from £ 2 lakh, with a daily cap of £ 6 Lakh, of £ 5 Lakh. In jewelry purchases, the per transaction sympathy remains at £ 2 lakh, but the daily ceiling rises to £ 6 lakh. Payments in hospital and education, of which the daily limits have already increased to £ 10 lakh of £ 5 lakh in earlier circulars, remain unchanged. Also by transaction, Cap remains at £ 5 lakh and investments in government bonds, including via the RBI Direct platform, has a daily limit of £ 10 Lakh. “While NPCI corrects the maximum allowable limit, banks can still impose lower caps, depending on their risk assessment,” says Ankit Bagadia, co -director, bankbazaar. He added that although several human-centric segments are already covered, real estate transactions and car purchases remain good to have for future inclusion. The changes are a significant pressure to make a platform, not just for everyday payments, but for high value transactions such as investments, insurance and large account payments. At the same time, the termination of the P2P collection function reflects NPCI’s efforts to combat fraud, which is indicative of the controls as the platform handles larger sums. Higher limits, says experts from lower bleed risk drives that the relocation will facilitate business payments without increasing bleed risk, as the higher limits only apply to verified traders. Person-to-person (P2P) limits remain unchanged at £ 1 lakh per day. “It is reassuring that limits have only been increased for selected traders. It will speed up high value transactions and reduce the dependence on checks, without increasing bleed risk risk. The standard limit of £ 1 for P2P ensures that everyday transactions remain safe,” says Samit Singh, former banker and founder of lucky pension. P2P ‘Collect request’ to terminate NPCI has ordered that the P2P will stop collect request function on UPI from October 1st. “This means that individuals can no longer send or receive collection requests; payments can only be made via QR code scans or by entering UPIIDs,” Bagadia said. The NPCI impairment released on July 29 said: “All member banks, payment service providers (PSPs) and UPI apps are instructed to ensure that no P2P collection is initiated, placed or processed on UPI further than October 1, 2025.” The move is intended to protect users from the gullible use from fraudsters who abuse this route to collect payments that have been disguised as benefits and cashbacks.
UPI Daily Payment Limit increases up to £ 10 lakh for selected transactions, bleed risk risks kept in check
