What is the UPI limit for High-Value transactions like tax payments or hospital?
Show Hint
- 2 Lakhs per transaction
- 5 lakhs per transaction
- 10,000 per transaction
- 5 thousand
The Correct Option is B
Solution and Explanation
2. Understand UPI limits: UPI (Unified Payments Interface) allows users to transfer money instantly between banks. It has different transaction limits based on the transaction type.
3. Check for high-value transactions: High-value transactions, especially related to critical services like taxes and healthcare, require higher transaction limits to accommodate larger payments.
4. Correct Limit: The UPI limit for such transactions is set at 5 lakhs per transaction.
5. Conclusion: The correct answer is (2) 5 lakhs per transaction.
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