UPI September 2024 update

Business

NPCI Enhances UPI for High-Value Transactions, Raising Tax Payment Limit

Indian taxpayers are set to enjoy enhanced convenience with the recent upgrade to the Unified Payments Interface (UPI) system. The National Payments Corporation of India (NPCI) has raised the UPI transaction limit for tax payments, allowing up to ₹5 lakh per transaction, a notable increase from the previous ₹1 lakh cap. This update, issued through an NPCI circular on August…