UPI payment limit to hospitals, educational institutes raised to Rs 5 lakh

The Reserve Bank of India (RBI) on Friday announced that the Unified Payments Interface (UPI) payment limit for hospitals and educational institutions would be raised to Rs 5 lakh per transaction from Rs 1 lakh presently.

The limit for a UPI transaction is currently capped at Rs 1 lakh except in a few categories like capital markets and collections, which include credit card payments, loan repayments, and insurance, among others, where the transaction limit is capped at Rs 2 lakh.