RBI hikes UPI limit for hospital, educational payments: What does it mean?

The Reserve Bank of India on Friday raised the UPI payment limits to Rs 5 lakh from Rs 1 lakh earlier. While making the announcement, RBI Governor Shaktikanta Das said that it will allow consumers to make higher UPI payments for education as well as medical purposes.

During the Monetary Policy Committee (MPC) announcement, Das said, “The limit for various categories of UPI transactions has been reviewed from time to time. It is now proposed to enhance the UPI transaction limit for payment to hospitals and educational institutions from Rs 1 lakh to Rs 5 lakh per transaction.”