UPI payments new record 17.4 lakh crore rupees Transactions value in November 2023
The reason for this increase in UPI transactions is being attributed to the festive season. First in October and then in November, people made huge purchases, due to which there was a surge in UPI transactions. NPCI data shows that in January this year, UPI transactions were at Rs 12 lakh crore, which increased to Rs 14 lakh crore in March. In July it crossed the figure of Rs 15 lakh crore and in November it reached the record level of Rs 17.4 lakh crore.
Talking about other news related to online payment, to prevent fraud in this, the government is preparing to bring some rules regarding first transaction between two people. Now a minimum limit is being fixed for the first time transaction between two people. If the new rules are issued, then the first time transaction of more than Rs 2,000 between two people may be delayed by 4 hours.
That means, if you send more than Rs 2,000 to someone for the first time, the payment will reach within 4 hours. This will cause problems to those doing digital transactions. Digital payments may decline, but officials feel it is important to reduce cyber fraud.
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