NPCI to decide on UPI merchant transaction limits, says RBI Governor

RBI Governor Shaktikanta Das stated that the National Payments Corporation of India (NPCI) will decide on the limits for UPI (Unified Payments Interface) merchant transactions. This clarifies the regulatory framework for UPI, indicating that while the RBI sets broad guidelines, the operational aspects like transaction limits for merchants are determined by NPCI, the umbrella organization for retail payments in India. This allows for flexibility in managing the UPI ecosystem.