HDFC, SBI, ICICI and Other Banks Establish Daily UPI Transaction Limits

India has seen exponential growth in Unified Payments Interface (UPI) transactions over the past few years—2022 saw UPI payments and card transactions reach a milestone of Rs 149.5 lakh crore, highlighting the growing popularity and acceptance of digital payments in the country. However, with this convenience comes the risk of cybercrime, as UPI-related frauds have been increasing. To check the number of transactions and reduce the risk of financial frauds, leading banks such as HDFC Bank, State Bank of India (SBI), Axis Bank, and ICICI Bank have implemented restrictions on UPI transactions. These restrictions follow guidelines set by the National Payments Corporation of India (NPCI) to regulate the expanding digital payment ecosystem.

NPCI’s Guidelines on UPI Transaction Limits

NPCI specifies that individuals can initiate UPI payments up to Rs 1 lakh per day. However, this limit varies across different banks.

Banks Daily transaction limit
Canara Bank Rs 25,000
State Bank of India (SBI) Rs 1 Lakh
HDFC Bank Rs 1 lakh (Rs 5,000 for new users)
ICICI Bank Rs 1 Lakh
Axis Bank Rs 1 Lakh
Bank of Baroda Rs 25,000


Apart from monetary limits, NPCI also restricts the number of transactions a user can make per day. As per the new regulations, users can conduct up to 20 UPI transactions within 24 hours. After reaching this limit, users must wait for 24 hours before initiating more transactions. Keep in mind that specific transaction limits may vary across different banks.

Transaction Limits in Popular UPI Apps

Popular UPI apps such as Paytm, Google Pay, and Amazon Pay UPI have established a daily transaction limit of Rs 1 lakh, with a cumulative limit of up to ten transactions across all UPI apps and bank accounts. Google Pay has implemented

 

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