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List of New Daily and Monthly UPI Transaction Limit 2023 for Every Bank

The Unified Payments Interface (UPI) has revolutionized the way people make payments by eliminating the need to physically visit banks and endure lengthy queues. UPI is now widely utilized for transactions of varying magnitudes. Nevertheless, numerous individuals remain uncertain about the specific transaction limits imposed by their respective banks.

New Daily and Monthly UPI Transaction Limit 2023 for Every Bank

List of Daily and Monthly UPI Transaction Limits by Various Banks

BanksUPI transaction LimitUPI daily limit
YES Bank1,00,0001,00,000
Union Bank of India1,00,0002,00,000
State Co-Operative10,0001,00,000
Co-Operative Apex10,0001,00,000
State Bank of India1,00,0001,00,000
Standard Chartered1,00,0001,00,000
Punjab National Bank25,00050,000
Kotak Mahindra Bank1,00,0001,00,000
IndusInd Bank1,00,0001,00,000
Indian Overseas Bank50,0001,00,000
Indian Bank1,00,000100,000
ICICI Bank1,00,0001,00,000
DCB Bank5,0005,000
Canara Bank1,00,000100000
Bank of India10,0001,00,000
Bank Of Baroda25,000
Axis Bank1,00,0001,00,000

9 Billion UPI Transactions in May Worth 14 Lakh Cr

The number of monthly UPI transaction limit witnessed a remarkable year-on-year increase of over 58% in May, reaching an all-time high in terms of both volume and value. The data reveals that more than nine billion transactions were conducted, amounting to over ₹14 lakh crore.

During the same period, the monthly transaction value experienced a significant surge of 43% compared to the previous year.

Since its inception in 2016, India’s Unified Payments Interface (UPI) has gained global recognition as a reliable payment system. It has garnered trust among users and emerged as a widely accepted mode of payment.

The data further highlights that in the fiscal year 2023, India’s indigenous payment system processed over 83 billion transactions, totaling ₹139 lakh crore. This substantial growth can be observed compared to the 38 billion transactions worth ₹84 lakh crore recorded in the previous financial year, 2022.

In February, the Indian government granted access to UPI for international visitors to facilitate shopping within the country. Initially, only visitors from G-20 nations were permitted to make UPI payments, limited to specific airports of arrival.

Also read:

Discover the Best Insurance Plans for Complete Savings In the New Fiscal Year

Given India’s current presidency of the G-20 until November, foreign delegates have been invited to participate in numerous events hosted in the country

Residents of ten countries, namely Singapore, the United States, Australia, Canada, Hong Kong, Oman, Qatar, Saudi Arabia, the United Arab Emirates (UAE), and the United Kingdom (UK), who are Non-Resident Indians (NRIs), can avail themselves of UPI services for transactions without relying on their Indian phone numbers.

Rishabh Sharma

Rishabh is an experienced content writer and editor, he is working for Viralbake to cover a diversified range of categories. His articles mainly focus on providing information, being a travel guide, educating others, and also making people aware of technology, after all, he is a technophile. When not writing he can be found gaming, watching movies, and travelling.

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