UPI Transaction Limits set by Banks in India (2024)

CATEGORY - UPI

UPI - 3 Dec, 2023

Table of Contents
1. 1. Understanding UPI Transaction Limits and Their Banking Implications
  1. 1.1 Additional facts about UPI
2. 2. Why UPI?
  1. 2.1 - The benefits of UPI extend further
3. 3. How UPI Works and Its Uniqueness for Online Money Transactions
  1. 3.1 - The UPI transaction engages the following parties
4. 4. Using UPI as a payment method entails transaction limits
5. 1. 5.1 - The UPI transaction limits for Bank of Baroda with UPI ID
  2. 5.2 - Axis Bank UPI Transaction Limit, including BHIM Axis Pay
  3. 5.3 - Canara Bank with UPI ID Transactions Limits
6. 6. UPI transaction limits set by banks
7. 7. FAQ
  1. 7.1 - UPI full form?
  2. 7.2 - What is a UPI reference number?
  3. 7.3 - How to unblock a UPI ID?
  4. 7.4 - What is a UPI number?
  5. 7.5 - How to reset a UPI PIN?
  6. 7.6 - What is a UPI PIN?

Understanding UPI transaction limits and their banking implications

UPI, or Unified Payments Interface, is a real-time payment system developed by the National Payments Corporation of India (NPCI). It allows users to make instant payments to merchants and individuals using their bank accounts. UPI has become India’s most popular payment method, with over 250 million users.

The NPCI sets UPI transaction limits. The daily UPI transaction limit for all users is Rs. 1 lakh (Rs 100,000). This limit applies to both P2P and P2M transactions. The daily transaction limit for new users is Rs. 5,000.

There are a few reasons for UPI transaction limits. One reason is to protect users from fraud. By limiting the amount of money that can be transferred in a day, UPI helps to reduce the risk of fraud. Another reason for UPI transaction limits is to manage liquidity. By limiting the amount of money that can be transferred in a day, UPI helps to ensure that banks have enough liquidity to meet customer demands..

UPI transaction limits have implications for banks. Banks need to be aware of the UPI transaction limits when processing payments. They also need to have systems in place to manage UPI transactions and to prevent fraud.

Additional facts about UPI:

The UPI ecosystem in India has increased in recent years. In October2023, UPI processed 11 billion transactions valued at Rs.17.16 lakh crore.
The number of UPI users in India is expected to reach 500 million by 2025.
UPI is India's most popular payment method for P2P and P2M transactions.
UPI is a secure, cost-effective payment method for both banks and merchants.

Why UPI?

Unified Payments Interface (UPI) is an instant payment system by the National Payments Corporation of India (NPCI). UPI empowers seamless transactions, offering convenience, security, and speed. Utilizing mobile phones, users make instant payments to both merchants and individuals. With over 250 million users, UPI's popularity stems from its accessibility, robust security with two-factor authentication, swift processing, and affordability—no transaction fees for P2P transactions under Rs. 2,000.

The benefits of UPI extend further

UPI is available 24/7, ensuring payment flexibility.
It's embraced by various merchants and services, both online and offline.
UPI's user-friendly nature caters to all levels of tech familiarity.
Security is reinforced with two-factor authentication.
UPI is cost-effective, enhancing its appeal to the masses.

UPI's journey toward dominance is apparent in revolutionizing India's payment landscape.

How UPI works and Its uniqueness for online money transfer

Mobile devices facilitate 24/7 money transfers.
One mobile application grants access to multiple bank accounts.
It aligns with regulatory guidelines while offering seamless single-click payments.
Incremental security is ensured through the customer's virtual address for Pull & Push transactions, eliminating the need for card numbers, account numbers, or IFSC codes.
Any QR code suffices for UPI transactions.
Accepting payments via a single application or in-app is possible.
Multiple billing payments, including utility bills via QR codes (scan and pay) and over-the-counter payments, can be executed..
It scales effectively for donations, collections, and disbursem*nts.
Raising a complaint is straight forward via the mobile app.

The UPI transaction engages the following parties

1. NPCI
2. Remitter Bank
3. Beneficiary Bank
4. Payee PSP
5. Payer PSP
6. Bank Account Holders
7. Merchants

Using UPI as a payment method entails transaction limits

Easebuzz enables diverse payment methods for your customers, each with distinct transaction limits due to regulations from Indian banking partners.

NPCI, the RBI-regulated entity behind UPI, has set a Rupees 1 Lakh transaction limit.

In 2022, UPI's transaction limits saw an increase for IPOs (Initial Public Offerings) and RDSs (Retail Direct Scheme).

The NPCI circular on December 9, 2021, establishes a maximum limit of five lakh rupees for UPI transactions. Initial Public Offerings (IPO) and Retail Direct Schemes (RDS) are capped at five lakhs rupees:

UPI transaction category	UPI transaction type	UPI transaction limits
P2P/P2PM	QR share, Pay, and Collect, Share Intent Link	Indian Rupee 2000/-
P2M	Offline Non-verified, QR share, Pay, and Collect, Share Intent Link	Indian Rupee 2000/-
P2P/P2PM	Pay	Indian Rupee 1,00,000/-
P2M	All	Indian Rupee 1,00,000/-
P2M	'Verified Specific Categories – OC 82, OC 96'	[Specific merchant categories]

*Please note the circular issued by NPCI on September 24, 2021, outlining essential standards for UPI transaction limits.

Here's a breakdown of UPI transaction limits based on different categories and types, denominated in Indian Rupees:

UPI Transaction Category	UPI transaction type	UPI transaction limits
P2P/P2PM	QR share, Pay, and Collect, Share Intent Link	Indian Rupee 2000/-
P2M	Offline Non-verified, QR share, Pay, and Collect, Share Intent Link	Indian Rupee 2000/-
P2P/P2PM	Pay	Indian Rupee 1,00,000/-
P2M	All	Indian Rupee 1,00,000/-
P2M	'Verified Specific Categories – OC 82, OC 96'	Indian Rupee 2,00,000/-
IPOs & RDS	Investment in government securities	Indian Rupee 5,00,000/-
P2PM	Small merchants and unorganized retailers	Indian Rupee 1,00,000/-

Merchant-verified status by acquiring banks includes adding a merchant to the list, encompassing specific categories like capital markets, collections, insurances, and pre-approval disbursem*nts.

Please note UPI transaction limits may vary across banks despite RBI's efforts toward standardization.

Big News for Education & Healthcare: UPI Transaction Limit Increased to Rs 5 Lakh

Good news for students, parents, and patients! The Reserve Bank of India (RBI) has proposed a significant increase in the transaction limit for Unified Payments Interface (UPI) payments to educational institutions and hospitals. This means you can now make payments of up to Rs 5 lakh using UPI instead of the previous limit of Rs 1 lakh.

What are the benefits?

This move is expected to significantly improve the convenience and ease of making payments for education and healthcare services. Here’s how it benefits different stakeholders:

Students and Parents:

Pay for higher education fees seamlessly.
Make large payments for boarding schools or tuition fees without requiring multiple transactions.
Increased flexibility and convenience when managing educational expenses.

Hospitals and Patients:

Handle larger medical bills efficiently without cash or multiple transactions.
Make emergency payments smoothly during critical situations.
Enhance the overall experience for patients and improve hospital efficiency.

Additionally, the RBI has also proposed:

Increasing the e-mandate limit for recurring payments to Rs 1 lakh: This will simplify payments for mutual funds, insurance premiums, and credit card bills.
Issuing separate instructions regarding these changes soon: Stay tuned for further details and implementation timelines.

Overall, these changes reflect the RBI's commitment to:

Promote financial inclusion and ease financial transactions.
Adapt to the evolving digital landscape and encourage digital payments.
Make critical services like education and healthcare more accessible and efficient.

This is a welcome move that will benefit students, parents, patients, and healthcare institutions alike. Stay informed about the upcoming instructions and enjoy the convenience of making large payments through UPI!

Let’s categorize UPI transaction limits as follows:

Maximum Transfer Amount: UPI restricts transfers to an entire sum.
Daily Transaction Frequency: Users can perform a specific number of UPI transactions daily.
Real-time UPI Network Transactions: UPI facilitates instant transactions across networks.

For instance, in SBI, daily UPI transactions can reach up to Rs 10,00,000. However, the cap for merchant and bill payments is Rs 5,00,000/-.

Let’s categorize UPI transaction limits as follows:

In Canara Bank's UPI application, customers can pay and send up to Rs. 1,00,000/- per transaction daily.

The UPI transaction limits for bank of baroda with UPI ID:

Services	No. of transactions in a day	Minimum amount	Max amount per transaction	Max amount per day
Fund transfer	10	Rs. 1	Rs. 1,00,000	Rs. 1,00,000
Fund transfer (after setting/resetting UPI PIN)	1 (till 24 hrs. of the cooling period)	Rs. 1	Rs. 5,000	Rs. 5,000
IPO (ASBA)	Not Applicable	Not Applicable	Rs. 5,000	Not Applicable
*USSD (99#)**	10	Rs. 1	Rs. 5,000	Rs. 5,000
Merchant transactions	10	Rs. 1	Rs. 2,000 (Online Collect for Un-verified Merchants) Rs.1,00,000 for others, Rs. 2,00,000 for Specific MCCs	Rs. 1,00,000, Rs. 6,00,000 for Specific MCCs

Axis bank UPI transaction limit, including BHIM Axis pay

Axis Bank offers a UPI transaction limit of Rupees 1,00,000/- through the BHIM Axis Pay app. The IPO limit stands at Rupees 5,00,000/-. A maximum of 10 daily transactions, including merchant and bill payments, is allowed. You can request up to rupees 2,000 per transaction, with a maximum of 5 such transactions.

Canara bank with UPI ID transactions limits:

Canara Bank sets the UPI transaction limit at Rupees 1,00,000 per transaction or day. There is no minimum transaction limit imposed.

UPI transaction limits set by banks in India

Bank Name	Bank type	Sponsor bank	UPI transaction limit	UPI daily limit
Abhyudaya Co-operative Bank	Cooperative	NA	25000	25000
Adarsh Co-op Bank Ltd	Cooperative	HDFC Bank	50000	50000
Aditya Birla Idea Payments Bank	Payments Bank	NA	100000	100000
Airtel Payments Bank	Payments Bank	NA	100000	100000
Allahabad Bank	Public Sector Bank	NA	25000	100000
Allahabad UP Gramin Bank	RRB	Allahabad	20000	40000
Andhra Bank	Public Sector Bank	NA	100000	100000
Andhra Pradesh Grameena Vikas Bank	RRB	SBI	25000	100000
Andhra Pragathi Grameena Bank	RRB	NA	10000	20000
Apna Sahakari Bank	Cooperative	NA	100000	100000
Assam Gramin VIkash Bank	RRB	United Bank of India	5000	25000
Axis Bank	Private	NA	100000	100000
Bandhan Bank	Private	NA	100000	100000
Bank Of Baroda	Public Sector Bank	NA	25000	Not set
Bank Of India	Public Sector Bank	NA	10000	100000
Bank of Maharashtra	Public Sector Bank	NA	100000	100000
Baroda Gujarat Gramin Bank	RRB	Bank of Baroda	25000	Not Set
Baroda Rajasthan Kshetriya Gramin Bank	RRB	BOB	25000	25000
Baroda Uttar Pradesh Gramin Bank	RRB	Bank of Baroda	25000	25000
Bassein Catholic Coop Bank	Cooperative	NA	20000	40000
Bhilwara Urban Co operative Bank LTD	Cooperative	HDFC	25000	25000
Bihar Gramin Bank	RRB	UCO	Merged with DBGB
Canara Bank	Public Sector Bank	NA	100000	100000
Catholic Syrian Bank	Private	NA	100000	100000
Central Bank of INDIA	Public Sector Bank	NA	100000	100000
Chaitanya Godavari Grameena Bank	RRB	Andhra Bank	25000	100000
Chhattisgarh Rajya Gramin Bank	RRB	SBI	25000	100000
Citibank Retail	Foreign Bank	NA	100000	100000
City Union Bank	Private	NA	100000	100000
COASTAL LOCAL AREA BANK LTD	Cooperative	BOM	50000	100000
Corporation Bank	Public Sector Bank	NA	50000	100000
DBS Digi Bank	Foreign Bank	NA	100000	100000
DCB Bank	Private	NA	5000	5000
Dena Bank	Public Sector Bank	NA	100000	100000
Dena Gujarat Gramin Bank	RRB	Dena	NA (Merged)
Deutsche Bank AG (Web Collect)	Foreign Bank	NA	NA
Dhanlaxmi Bank Ltd	Private	NA	100000	100000
Dombivli Nagrik Sahakari Bank	Cooperative	NA	100000	100000
Equitas Small Finance Bank	Small Finance Bank	NA	25000	100000
ESAF Small Finance Bank	Small Finance Bank	NA	100000	100000
Federal Bank	Private	NA	100000	100000
FINO Payments Bank	Payments Bank	NA	100000	100000
G P Parsik Bank	Cooperative	NA	100000	100000
HDFC	Private	NA	100000	100000
HDFC	Private	NA	(RS 5000 for new customer)	100000
Himachal Pradesh Gramin Bank	RRB	PNB	50000	50000
HSBC	Foreign Bank	NA	100000	100000
Hutatma Sahakari Bank Ltd	Cooperative	ICICI Bank	100000	No limit
ICICI Bank	Private	NA	100000	100000
IDBI Bank	Public Sector Bank	NA	100000	100000
IDFC	Private	NA	25000	100000
India Post Payment Bank	Payments Bank	NA	25000	50000
Indian Bank	Public Sector Bank	NA	100000	100000
Indian Overseas Bank	Public Sector Bank	NA	50000	100000
IndusInd Bank	Private	NA	100000	100000
J&K Grameen Bank	RRB	J&K	20000	20000
Jalgaon Janata Sahakari Bank	Cooperative	NA	100000	100000
Jammu & Kashmir Bank	Private	NA	20000	20000
Jana Small Finance Bank	Small Finance Bank	NA	10000	40000
Janata Sahakari Bank Pune	Cooperative	NA	100000	100000
Jio Payments Bank	Payments Bank	NA	100000	100000
Kallappanna Awade Ichalkaranji Janata Sahakari Bank Ltd.	Cooperative	NA	25000	200000
Karnataka Bank	Private	NA	100000	200000
Karnataka vikas Gramin Bank	RRB	NA	25000	25000
Karur Vysaya Bank	Private	NA	100000	100000
Kashi Gomti Samyut Gramin Bank	RRB	NA	100000	100000
Kaveri Grameena Bank	RRB	SBI	25000	25000
Kerala Gramin Bank	RRB	NA	20000	20000
Kotak Mahindra Bank	Private	NA	100000	100000
Langpi Dehangi Rural Bank	RRB	SBI	10000	100000
Madhya Bihar Gramin Bank	RRB	PNB	25000	100000
Maharashtra Gramin Bank	RRB	BOM	25000	100000
Maharashtra state co op Bank	Cooperative	NA	5000	50000
Malwa Gramin Bank (Bank merged with Punjab Gramin Bank)	RRB	SBI	10000	25000
Manipur Rural Bank	RRB	SBI	10000	10000
Maratha co-op Bank	Cooperative	NA	100000	100000
Meghalaya Rural Bank	Foreign Bank	SBI	100000	100000
Mizoram Rural Bank	RRB	SBI	25000	100000
NKGSB Co-op. Bank Ltd.	Cooperative	NA	20000	40000
Oriental Bank of Commerce	Public Sector Bank	NA	100000	100000
Paschim Banga Gramin Bank	RRB	UCO	5000	25000
Paytm Payments Bank	Payments Bank	NA	100000	100000
Pragathi Krishna Gramin Bank	RRB	NA	20000	20000
Prathama Bank	RRB	NA	10000	50000
Punjab and Maharashtra Co. bank	Cooperative	NA	100000	100000
Punjab and Sind Bank	Public Sector Bank	NA	10000	10000
Punjab Gramin Bank	RRB	PNB	10000	25000
Punjab National Bank	Public Sector Bank	NA	25000	50000
Purvanchal Bank	RRB	SBI	25000	100000
Rajasthan Marudhara Gramin Bank	RRB	SBI	25000	25000
Rajkot Nagarik Sahakari Bank Ltd	Cooperative	NA	100000	100000
Samruddhi Co-op bank ltd	Cooperative	TJSB	100000	100000
Sarva Haryana Gramin Bank	RRB	PNB	50000	100000
Sarva UP Gramin Bank	RRB	PNB	50000	100000
Saurashtra Gramin Bank	RRB	SBI	20000	100000
Shree Kadi Nagarik Sahakari Bank Ltd.	Cooperative	Yes Bank	100000	100000
South Indian Bank	Private	NA	100000	100000
Standard Chartered	Foreign Bank	NA	100000	100000
State Bank Of India	Public Sector Bank	NA	100000	100000
Suco Souharda Sahakari bank	Cooperative	ICICI Bank	100000	100000
Suryoday Small Finance Bank Ltd	Small Finance Bank	NA	100000	100000
Suvarnayug Sahakari Bank ltd	Cooperative	HDFC	100000	100000
Syndicate Bank	Public Sector Bank	NA	10000	100000
Tamilnadu Mercantile Bank	Private	NA	100000	100000
Telangana Gramin Bank	RRB	SBI	25000	100000
Telangana State Co Operative Apex Bank	Cooperative	IDBI	10000	100000
Thane Bharat Sahakari Bank	Cooperative	NA	100000	100000
The Cosmos Co-Operative Bank LTD	Cooperative	NA	10000	50000
The A.P. Mahesh Co-Operative Urban Bank	Cooperative	NA	25000	25000
The Ahmedabad District Co-operative Bank Ltd	Cooperative	GSCB	10000	25000
The Ahmedabad Mercantile Co-op Bank Ltd	Cooperative	HDFC Bank	100000	100000
The Andhra Pradesh state cooperative	Cooperative	NA	10000	100000
The Baroda Central Co-operative bank ltd.	Cooperative	GSCB	15000	100000
The Gujarat State Co-operative Bank Limited	Cooperative	NA	50000	100000
The Hasti Co-operative Bank Ltd	Cooperative	NA	100000	100000
The Kalyan Janata Sahakari Bank	Cooperative	NA	100000	100000
The Lakshmi Vilas Bank Limited	Private	NA	100000	100000
The Mahanagar Co-op. Bank Ltd	Cooperative	NA	25000	50000
The Malad Sahakari Bank Ltd.	Cooperative	PMCO	10000	50000
The Mehsana Urban Co-Operative Bank	Cooperative	NA	100000	100000
The Municipal Co-op Bank Ltd.	Cooperative	NA	5000	50000
The Muslim Co-Operative Bank Ltd	Cooperative	HDFC	100000	100000
The Nainital Bank Ltd	Private	NA	20000	40000
The Ratnakar Bank Limited	Private	NA	25000	25000
The Saraswat Co-Operative Bank	Cooperative	NA	100000	100000
The Surat Peoples Co Op. Bank Ltd	Cooperative	NA	25000	100000
The Sutex Co op Bank	Cooperative	ICICI Bank	100000	100000
The SVC Co-Operative Bank Ltd	Cooperative	NA	10000	20000
The Thane Janata Sahakari Bank Ltd(TJSB)	Cooperative	NA	100000	100000
The Udaipur Mahila Samridhi Urban Co-op Bank Ltd	Cooperative	ICICI Bank	100000	100000
The Udaipur Mahila Urban Co-op Bank Ltd	Cooperative	NA	100000	100000
The Urban Cooperative Bank Ltd Dharangaon	Cooperative	ICICI Bank	20000	25000
The Varachha Co-op Bank Ltd.	Cooperative	NA	20000	40000
The Vijay Cooperative Bank Ltd	Cooperative	ICICI Bank	20000	200000
The Vishweshwar Sahakari Bank Ltd	Cooperative	NA	100000	100000
Tripura Gramin Bank	RRB	SBI	10000	10000
UCO Bank	Public Sector Bank	NA	100000	100000
Ujjivan Small Finance Bank Limited	Small Finance Bank	NA	50000	100000
Union Bank of India	Public Sector Bank	NA	100000	200000
United Bank of India	Public Sector Bank	NA	25000	60000
Uttarakhand Gramin Bank	RRB	SBI	25000	100000
Vananchal Gramin Bank	RRB	SBI	20000	20000
Vasai Vikas Co-op Bank Ltd	Cooperative	NA	100000	100000
Vijaya Bank	Public Sector Bank	NA	25000	50000
YES Bank	Private	NA	100000	100000

*Sources of data collected are official bank websites and financial statements.

FAQ's

UPI full form?

The full form of UPI is Unified Payments Interface.

What is a UPI reference number?

A UPI reference number is a 12-digit code generated for each UPI transaction. It is used to track the transaction and to resolve any issues that may arise. The UPI reference number is always prefixed with the digit 9.

How to unblock a UPI ID?

If your UPI ID is blocked, you can unblock it by following these steps:

Open the UPI app that you use for transactions.
Go to the settings menu.
Select "UPI ID".
Enter your registered mobile number and UPI PIN.
Tap on "Unblock UPI ID".

What is a UPI number?

A UPI number is a unique identifier for your bank account used for UPI transactions. It is also known as a virtual payment address (VPA). Your UPI number is typically your mobile number followed by "@" and your bank's name. For example, if your mobile number is 9766782222 and your bank is SBI, your UPI number would be 9766782222@sbi.

How to reset a UPI PIN?

If you forget your UPI PIN, you can reset it by following these steps:

Open the UPI app that you use for transactions.
Go to the settings menu.
Select "UPI PIN".
Tap on "Reset UPI PIN".
Enter your registered mobile number and OTP.
Enter your new UPI PIN twice.
Tap on "Reset PIN.".

What is a UPI PIN?

A UPI PIN is a 4-6 digit PIN used to authenticate UPI transactions. Such is required for all UPI transactions, including sending and receiving money. You can create your own UPI PIN when you register for UPI. It is essential to keep your UPI PIN safe and secure. Please do not share it with anyone.