Question
What is the limit of UPI transaction for
insurance?Solution
Unified Payments Interface (UPI) is an instant payment system developed by the National Payments Corporation of India (NPCI), an RBI regulated entity. UPI allows you to instantly transfer money between any two parties' bank accounts. UPI limits are as follows: · For normal UPI the transaction limit is up to Rs 1 Lakh per transaction. · For few specific categories of transaction in UPI like Capital Markets, Collections, Insurance, Foreign Inward Remittances the transaction limit is up to 2 lakh · For Initial Public Offering and Retail Direct Scheme the limit is up to Rs 5 lakh per transaction.
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