Question

What is the UPI limit for High-Value transactions like tax payments or hospital?

• A. 2 Lakhs per transaction
• B. 5 lakhs per transaction
• C. 10,000 per transaction
• D. 5 thousand

Hint:

Make sure to check the latest UPI guidelines regularly, as transaction limits may vary based on your bank and the nature of the transaction.

Answer 1

The Correct Option is B

1. Identify the context: The question asks for the UPI limit for high-value transactions such as tax payments or hospital bills.
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.