Reserve Bank of India or RBI stated today that in order to encourage wider adoption of UPI, it has been decided to enhance the limits for some UPI products. UPI123 was launched in March 2022, with a view to enable feature-phone users to use UPI. This facility is now available in 12 languages. Currently, the per-transaction limit in UPI123Pay is capped at Rs 5000. In order to widen the use-cases, in consultation with the stakeholders, it has been decided to enhance the per-transaction limit to Rs 10,000. Necessary instructions will be issued to NPCI shortly.
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