The National Payments Corporation of India has announced a transaction limit for credit cards through UPI. The NPCI, through a guidelines issued on November 16, 2023, said the decision was taken in an effort to increase customer satisfaction and increase users’ use of UPI in e-commerce, healthcare services and educational institutions.
The decision was announced by RBI Governor Shakti Kant Das at the Monetary Policy Review press conference. UPI has become a widely used platform for payments in India, RBI said on developmental and regulatory policy. Currently 26 crore users and 5 crore merchants are using the UPI platform. All the benefits offered by UPI are that users can link their savings or current account through debit card in case of money transactions. But from now you can make transactions not only through debit card but also through credit card.