This image has been collected from the source mentioned. The report has been independently written by our team at this news portal. : FILE Many rules for UPI payment will change from January 1, 2025.
For those making UPI payments, not only the year is changing from January 1, 2025, but many rules are also going to change. To provide more convenience to the users in making UPI payments, RBI has decided to change the rules. The Reserve Bank of India has decided to increase the transaction limits for several modes of UPI, which will be implemented from January 1, 2025. Users will now be able to send more money through UPI than before. Let us know about the new rules related to UPI…
UPI123Pay limit increased
RBI has decided to increase the transaction limit of UPI service UPI123Pay brought for feature phone users. For this, the deadline was given till tomorrow i.e. 31st December 2024. If this deadline is not extended, then on New Year, users will be able to make payments up to Rs 10,000 in a day instead of Rs 5,000 through UPI123Pay.
Through UPI123Pay, users will be able to send up to Rs 10,000 to any other UPI users. However, at present there has been no change in the transaction limit for making UPI payment through smartphone apps like PhonePe, Paytm, GooglePay. Users can do UPI transactions only up to a maximum of Rs 1 lakh in a day. However, for medical emergencies etc. the limit has been increased to Rs 5 lakh.
UPI Circle
The UPI Circle service launched this year will be made available on UPI platforms other than BHIM in the new year. At present, users using BHIM app get the facility of UPI Circle. In this, users can add their family members or friends to their circle for delegated payment. Secondary users added to UPI Circle will be able to make UPI payments even without a bank account. For this, approval of primary users will be required for every payment or primary users will be able to set a limit for UPI payments without approval for their secondary users.
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