📢 Too many exams? Don’t know which one suits you best? Book Your Free Expert 👉 call Now!

    Question

    What is the limit of UPI transaction for

    insurance?
    A Rs.1 lakh Correct Answer Incorrect Answer
    B Rs.2 lakh Correct Answer Incorrect Answer
    C Rs.3 lakh Correct Answer Incorrect Answer
    D Rs.5 lakh Correct Answer Incorrect Answer
    E No UPI allowed in insurance Correct Answer Incorrect Answer

    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.

    Practice Next
    More Accounts Questions

    Relevant for Exams:

    ask-question