Before January 1st, the transaction limit for hospitals and educational institutions was limited to ₹1 lakh (around $1200). Now the limit has been hiked to ₹5 Lakh (around $6000).
UPI IDs and numbers that have been inactive for one year or more will now be deactivated. This has been done "to prevent the inadvertent transfer of money to unintended recipients in case customers change their mobile number without disassociating their old number from the banking system."
Transaction limits for UPI Lite wallets that allow the user to make payments without an internet connection have been increased from ₹200 to ₹500. The maximum amount that can be transferred online using UPI lite is ₹2,000.
UPI auto payments of up to ₹1 lakh — for credit card repayments, mutual fund subscriptions and insurance premiums will no longer require an additional factor authentication (AFA). Before this, payments of more than ₹15,000 required AFA authentication.
Interchange fee, which are paid by a merchant when a customer processes a transaction has been set to 1.1 per cent where the transaction value is less than Rs 2,000.
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