Q47: Following the regulatory developments in H1 2025 that allowed NPCI to set P2M limits, what is the transaction limit for Person to Person (P2P) payments in UPI?

Capped at ₹1 lakh

Capped at ₹5 lakh

Set by NPCI based on evolving user needs

No limit is applicable

✅ Correct Answer: A

While NPCI was permitted to set limits for P2M transactions, the existing cap for P2P (Person to Person) transactions remained unchanged at ₹1 lakh.

This distinction ensures consumer protection as highlighted in the RBI's Payment Systems Report - June 2025.

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