RBI allows NPCI to revise person-to-merchant UPI transaction limit

RBI Governor Sanjay Malhotra said the central bank has enabled the National Payments Corporation of India (NPCI) to revise the person-to-merchant transaction limits in UPI. The current limit for such transactions is ₹2 lakh. "We will give the freedom to NPCI in consultation with other stakeholders to revise it as per the needs of the economy," he said.