With the arrival of the New Year, Reserve Bank of India (RBI) has implemented some important changes for UPI users. These changes are aimed at making digital payments more simple and convenient. Now users will be able to transfer more money than before through UPI. Let us know about the new rules and features.
UPI123Pay transaction limit increased
rbi Designed for feature phone users UPI123Pay The transaction limit has been increased.
- First: Payments up to ₹5,000 could be made daily.
- Now: From January 1, 2025, payments up to ₹ 10,000 can be made daily.
This change will give more freedom and convenience to feature phone users.
- Smartphone Apps: Like the transaction limit on PhonePe, PayTM, and Google Pay will remain the same as before.
- Limit: Smartphone users can transact up to ₹1 lakh per day through UPI.
- Special cases: For example, for college fees and hospital bill payments, this limit has been increased to ₹5 lakh.
UPI Circle: New feature
UPI Circle The feature will be implemented on all UPI-supported platforms. It will be done first in 2024 BHIM app Was introduced on.
This feature allows users to add their family and friends so they can make payments without linking a bank account.
UPI Circle Alternatives
- Full Delegation:
- The secondary user can conduct full transactions up to a certain limit.
- Partial Delegation:
- The secondary user will only initiate the transaction, but will require the primary user’s UPI PIN to complete it.
UPI Circle Terms and Conditions
- primary user max 5 secondary user Can add.
- per transaction limit ₹5,000 and per month limit ₹15,000 Will happen.
- It will be mandatory for the secondary user to do passcode and biometric authentication.
Impact of these changes in UPI
UPI These changes will not only make payments simpler for users but will also make digital payments more secure.
Now feature phone users will also be able to make large transactions through UPI123Pay. There itself, UPI Circle It will be even easier to share payments among family and friends.
The new rules will make the digital payments journey for UPI users even better in the new year.
