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The National Payments Corporation of India (NPCI) has increased the limit for Unified Payments Interface (UPI) transactions in specific categories to Rs 2-5 lakh.
In a circular dated August 28, NPCI stated that the relaxed transaction limit will apply to categories such as insurance, travel, jewellery, and credit card bill payments, among others.
The UPI regulator said the enhanced limit will also apply to merchants who have been verified in accordance with its guidelines. Member banks can set lower internal limits on UPI transactions in the mentioned…
