P2P transactions will be limited to 10 per bank: NPCI notice
Image Credit: Economics Times
Less than a week after RBI released guidelines for interoperability between mobile wallets, and between bank accounts and e-wallets, National Payments Corporation of India has decreased maximum number of peer-to-peer transactions per bank from 20 to 10. This move will encourage genuine transactions in the Unified Payments Interface (UPI) ecosystem. The restriction will not affect person-to-merchant transactions.