Fund transfer limit per txn for IP (ASBA) in BHIM UPI

BANKING GENERAL KNOWLEDGE

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

A	2 lacs
B	3 lacs
C	5 lacs
D	1 lac

Explanation:

Detailed explanation-1: -The limit for IPO application is 2 Lakhs per transaction on UPI.

Detailed explanation-2: -The maximum payment a person can make through UPI is Rs 1 lakh per day as per the guidelines issued by the NPCI.

Detailed explanation-3: -Note: The per transaction limit for IPO through UPI Payment is Rs. 2, 00, 000.

Detailed explanation-4: -In December 2021, NPCI had enhanced the per-transaction limit in UPI from Rs 2 lakh to Rs 5 lakh for UPI-based Application Supported by Blocked Amount (ASBA) in IPOs.

Detailed explanation-5: -UPI transaction limit is Rs 2 lakh per day according to NPCI, the RBI regulated entity that built UPI. However, the maximum limit can change from bank to bank.

There is 1 question to complete.