BANKING AFFAIRS

BANKING GENERAL KNOWLEDGE

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

What is the per transaction limit for ASBA related transaction in UPI?

A	Rs. 50, 000
B	Rs. 1, 00, 000
C	Rs. 2, 00, 000
D	Rs. 5, 00, 000

Explanation:

Detailed explanation-1: -NPCI, the RBI-regulated entity that created UPI, has set a limit of Rupees 1Lakh per transaction. In 2022, UPI’s transaction limits have increased for IPOs (Initial Public Offerings) and RDSs (Retail Direct Scheme).

Detailed explanation-2: -Up to what limit can I apply for a public issue in UPI? The limit for IPO application is 2 Lakhs per transaction on UPI.

Detailed explanation-3: -Daily limits You may reach a daily limit if: You try to send more than ₹1, 00, 000 in one day across all UPI apps. You try to send money more than 10 times in one day across all UPI apps. You request more than ₹2, 000 from someone.

Detailed explanation-4: -• What does ASBA stand for? ASBA means “Applications Supported by Blocked Amount". ASBA is an application containing an authorization to block the application money in the bank account, for subscribing to an issue.

There is 1 question to complete.