UPI transaction limit for income tax payments, other tax payments hiked to Rs 5 lakh from Rs 1 lakh: RBI

With the growing popularity of UPI for making payments, the limit for direct and indirect tax payments via UPI has been hiked to Rs 5 lakh. Currently, the UPI limit for normal transactions is Rs 1 lakh per transaction. The RBI announced the proposal to hike the UPI limit for tax payments in the monetary policy meeting on August 8, 2024.