CURRENT AFFAIRS

Detailed explanation-1: -Mass retail payments platform Unified Payments Interface, popularly known as UPI, posted yet another life high in August. The platform processed 6.57 billion (657 crore) transactions, totalling ₹10.73 trillion, data released by the National Payments Corporation of India (

Detailed explanation-2: -In addition, depending on the bank’s guidelines, a person can initiate a maximum of 10 or 20 transactions per day via PhonePe UPI. The daily limit for UPI transfers is set at 20 transactions. After exceeding the limit, one must wait 24 hours before the limit can be renewed.

Detailed explanation-3: -According to NPCI data, approximately 74 billion transactions worth Rs 125.94 trillion were conducted using UPI in calendar year 2022.

Detailed explanation-4: -The daily UPI transfer limit is set to 20 transactions. After exceeding the limit, one has to wait for 24 hours to renew the limit. However, the limit may vary as per bank guidelines.

Detailed explanation-5: -The upper limit on the maximum amount that can be transferred through Paytm UPI in a day is ₹ 1 lakh. Paytm allows transactions of up to ₹ 20,000 in an hour through UPI. There is a cap of a maximum of five transactions per hour and a maximum of 20 transactions per day through Paytm UPI.