CA Palak Rathi Instagram – Here’s the latest UPI feature that you HAVE TO KNOW!
📱What is UPI CIRCLE?
UPI Circle is a new feature introduced by NPCI that allows a primary UPI user to share payment rights with up to five individuals such as children or dependents.
📱 Key Feature
Using a single UPI ID linked to one bank account allowing secondary users to make transactions without needing their own UPI ID, while you stay in control by setting limits and keeping an eye on all activity.
📱Rules
> Maximum Monthly Limit : The primary user can set a maximum monthly transaction limit of ₹15,000 for each secondary user.
> Per Transaction Limit : Each transaction initiated by a secondary user cannot exceed ₹5,000.
> Daily Limit : There is a daily transaction limit of ₹5,000 during a 24-hour cooling period after linking a secondary user. This limit applies to both full and partial delegation types.
> Validity of Payment Requests : Payment requests made under partial delegation are valid for 10 minutes, while full delegation transactions are processed within the set monthly limit.
> Each secondary user can only be part of one UPI Circle at a time.
The feature is all set to launch this year very soon! Share this with anyone who faces the same payment issues or your dependent ones!
[UPI, Gpay, Google Pay, UPI Circles, online payment]
#upi #gpay #onlinepayment #upicircle
@upichalega @npci_alwaysforward @bhim_npci @mygovindia @ashwini.vaishnaw
@jitinprasada @nsitharaman @finminindia | Posted on 03/Sep/2024 19:28:55
