now UPI transaction limit to Rs 2 lakh for some payments

now UPI transaction limit to Rs 2 lakh for some payments -

The move will be effective from April 2020 and would boost the transactions for categories such as AMC, B2B collections, mutual funds, insurance, pre-approved disbursements, and credit card payments, etc.

The committee has approved to increase the current limit of Rs 1 lakh per transaction to Rs 2 lakh. This is to fulfill specific needs, including payments for credit cards, loans, insurance, and mutual fund investments. It said the payments body might add incremental categories to this enhanced limit as and when required.