Page 22 - NIS English 16-30 September, 2026

Cover Story
UPI TURNS 10

UPI transaction limit increased to

₹5 lakh per transaction

n Feature phone users were n The UPI Lite wallet limit has been raised to ₹5,000, while
brought into the digital the per-transaction limit has been increased to ₹1,000.
payment ecosystem through n On-device authentication for UPI was introduced in 2025,
the launch of UPI123Pay. enabling payments via smartphone fingerprint or face unlock.
It enables transactions via
Interactive Voice Response
(IVR) numbers, app-based
functionality, a missed-
call-based approach, and
proximity sound-based
payments.

n Integration of credit cards
with UPI further expanded
digital payment options for
users.
n Credit Line on UPI was
introduced in 2023.

n UPI Circle was introduced in
2024, allowing primary users
to authorize secondary users
to make transactions on their Annual Transaction Value 314
(FY 2016-17 to FY 2025-26)
bank accounts within pre-
defined limits. 261

n In 2024, the RBI increased CAGR: 155% 200
the UPI transaction limit for
tax payments from ₹1 lakh to 139
₹5 lakh per transaction. 84

n The per-transaction limit 0.07 1 9 21 41
for UPI123Pay has been 2016-17 2017-18 2018-19 2019-20 2020-21 2021-22 2022-23 2023-24 2024-25 2025-26
increased to ₹10,000. Note: Annual UPI transaction value (in lakh crore rupees)

as a user-friendly interface, instant payment ping malls, has drastically reduced reliance
capabilities, zero direct cost, and extensive on cash. This rapid growth of UPI not only
digital connectivity have rapidly accelerated testifies to the robustness of India’s Digital
financial inclusion, reaching even the coun- Public Infrastructure (DPI) but also establish-
try’s most remote areas. The ubiquity of QR es the nation as a global leader in the digital
codes, from vegetable carts to large shop- payments landscape. n

20 NEW INDIA SAMACHAR || Sep 16-30, 2026