UPI Full Form, Limits, Charges, PIN Reset and Transaction ID
Independent guide. We are not part of RBI, NPCI or any bank, and we never ask for your account details, PIN or OTP.
UPI stands for Unified Payments Interface. It is NPCI's system for paying instantly from your phone, 24×7, using a UPI ID, QR code or mobile number and your UPI PIN. Sending money to people is free. The usual limit is ₹1 lakh per day.
- Full form
- Unified Payments Interface
- Run by
- NPCI, regulated by RBI
- Started
- 11 Apr 2016
- Timings
- 24×7, including holidays
- Credit time
- Instant
- Usual limit
- ₹1 lakh per day
- Payments a day
- 20 to people (at SBI)
- Charges for you
- Free
How does UPI work?
Your UPI app asks your bank to pay. NPCI's UPI system routes the payment to the receiver's bank, which credits the money at once.
UPI ID and UPI PIN
- UPI ID (also called VPA): your payment address, such as
name@bank. People can pay you with it instead of your account number and IFSC. - UPI PIN: a 4- or 6-digit secret number you set for each bank account. You need it only to pay, never to receive money.
- Security: UPI checks two things: the mobile number registered with your bank, and your UPI PIN.
- Wrong PIN: after 3 wrong tries you'll see "number of PIN tries exceeded", and must reset the PIN.
How to set or reset your UPI PIN
- In your UPI app, open the bank account and tap Reset UPI PIN.
- Choose Aadhaar instead of debit card.
- Enter the first 6 digits of your Aadhaar number.
- Enter the OTP sent to the mobile number linked to your Aadhaar.
- Set your new UPI PIN twice.
This works only if your Aadhaar is linked to the same bank account and mobile number. Not every bank or app offers it.
After a reset: banks apply a lower limit for a short time. At SBI, for example, you can send only ₹5,000 in the first 24 hours on Android, or ₹5,000 a day for 5 days on iPhone.
UPI limits: per payment, per day and number of payments
| Limit | Amount |
|---|---|
| Usual limit | ₹1 lakh per payment and per day (SBI) |
| Higher limits | Up to ₹5 lakh per payment for certain categories, such as tax payments |
| Payments to people | Up to 20 in 24 hours per account (SBI) |
| Payments to shops | No limit on the number, within the amount limit (SBI) |
| New PIN or new phone | ₹5,000 for the first 24 hours (SBI, Android) |
| UPI Lite | ₹1,000 per payment; ₹5,000 balance; ₹10,000 a day |
| UPI 123PAY | ₹10,000 per payment |
Limits are set by NPCI and your bank, generally ₹1 lakh to ₹5 lakh a day depending on the category, and can change. Check your bank's app for your own limit.
What is UPI Lite?
UPI Lite is a small balance on your phone for quick, low-value payments without entering your UPI PIN each time.
- Up to ₹1,000 per payment, ₹5,000 balance at a time, and ₹10,000 a day.
- You can switch on auto top-up so the balance refills from your bank account.
- Changing phones? Disable UPI Lite on the old phone first; the balance goes back to your bank account.
Is UPI free? Charges and MDR
- Sending money to people: always free, whatever the amount.
- Paying shops up to ₹2,000: free.
- Small merchants receiving up to ₹1 lakh a month on their QR code: no charge to them.
- Larger shop payments: after Diwali 2026, on a date NPCI will announce, merchants will pay a fee (MDR) on payments above ₹2,000. You don't pay it, and apps may not add platform fees.
| Merchant payment above ₹2,000 | MDR paid by the merchant |
|---|---|
| Most shops and services | 0.4%, capped at ₹300 (for ₹75,000 and above) |
| Railways, telecom, insurance, fuel, farm inputs | Flat ₹5 |
| Mutual funds, shares, stockbrokers | 0.02%, capped at ₹300 |
How to read a UPI statement line and transaction ID
Each UPI payment has a 12-digit reference number, called the UPI transaction ID or RRN. On your bank statement it sits inside a longer line, like this sample:
UPI/DR/600123456789/SIB One/YESB/onecard/Payment
| Part | In the sample | Meaning |
|---|---|---|
| Type | UPI | The payment system used |
| Direction | DR | DR (debit) = money went out; CR (credit) = money came in |
| Reference | 600123456789 | The 12-digit UPI transaction ID |
| Name | SIB One | Name of the other party |
| Bank code | YESB | The other party's bank (first 4 letters of its IFSC; YESB = Yes Bank) |
| UPI ID / app | onecard | Part of the other party's UPI ID or app |
| Remarks | Payment | The note added to the payment |
In our experience, the UPI reference number does not carry a readable date, unlike IMPS. Banks show the line slightly differently. Quote the 12-digit number, date and amount for any complaint.
Failed, pending or wrong payments
| Problem | What happens / what to do |
|---|---|
| Money debited, receiver didn't get it | It must be reversed by the next day (T+1). If late, your bank pays you ₹100 a day automatically. Not back by T+2? Raise a dispute in your UPI app's transaction history, then complain to your bank and the RBI Ombudsman on the RBI complaint portal. |
| Pending | Don't pay again. Wait for the final status; it ends as success or a reversal. |
| Wrong UPI ID or number | Once you enter your PIN, the payment cannot be stopped. Raise a dispute in the app and contact your bank with the reference number. Recovery depends on the receiver and is not guaranteed. |
| UPI not working | Usually your bank's or the receiver's bank's system is busy or down. Wait and try again later, or use IMPS or NEFT. If money was debited, don't retry; wait for the reversal. |
Fraud: collect requests and QR code scams
- You never need your UPI PIN to receive money. If anyone asks you to enter your PIN "to receive" a payment, it is a scam.
- A collect request asks you to pay. Approving it takes money out of your account. Never approve one from someone you don't know.
- Scanning a QR code is for paying. Don't scan a QR code sent by a stranger "to receive" money.
- Never share your UPI PIN or OTP, even with someone claiming to be from your bank.
- Cheated? Call 1930 at once or report on the National Cybercrime Reporting Portal, and tell your bank.
Newer UPI features
AutoPay
Set up recurring payments such as subscriptions, EMIs and insurance premiums with your own limits.
Credit on UPI
Pay with a RuPay credit card or a pre-approved bank credit line through UPI.
UPI Circle
Let a family member pay from your account within limits you set.
UPI 123PAY
UPI for feature phones without internet, up to ₹10,000 per payment.
UPI Lite
Small payments without a PIN, up to ₹1,000 each.
UPI abroad
UPI QR payments are accepted in some other countries, and foreign visitors can use UPI One World.
UPI vs IMPS vs NEFT vs RTGS
| UPI | IMPS | NEFT | RTGS | |
|---|---|---|---|---|
| Run by | NPCI | NPCI | RBI | RBI |
| You enter | UPI ID, QR or mobile + UPI PIN | Account + IFSC, or mobile + MMID | Account + IFSC | Account + IFSC |
| Speed | Instant | Instant | Within 2 hours of batch | Within 30 minutes |
| Usual limit | ₹1 lakh a day | ₹5 lakh per payment | No RBI limit | Minimum ₹2 lakh |
| Cost to you | Free | Often free online | Free online | Often free online |
UPI is built on the same system as IMPS, so both move money instantly.
History of UPI
NPCI launches UPI, under RBI oversight.
RBI raises the UPI Lite limits to ₹1,000 per payment and ₹5,000 balance, UPI 123PAY to ₹10,000, and tax payments to ₹5 lakh.
Over 24,162 crore UPI payments worth about ₹314 lakh crore in the year.
The government announces the merchant fee (MDR) framework: payments to people stay free.
MDR on merchant payments above ₹2,000 starts, on a date NPCI will announce.
FAQs
What is the UPI limit per day?
Usually ₹1 lakh per day for most people, set by NPCI and your bank. Some categories, such as tax payments, allow up to ₹5 lakh per payment.
How many UPI payments can I make in a day?
At SBI, up to 20 payments to people in 24 hours per account. There is no count limit for payments to shops within the amount limit.
Do I pay any charge for UPI?
No. Sending money to people is always free, and merchant fees (MDR) are paid by merchants, not by you.
How do I reset my UPI PIN?
In your UPI app, open the bank account, tap Reset UPI PIN, verify with your debit card's last 6 digits and expiry date (or Aadhaar) and the OTP, then set a new PIN twice.
Where do I find the UPI transaction ID?
In your UPI app's transaction history and on your bank statement, as the 12-digit number after UPI/DR or UPI/CR.
Do I need my UPI PIN to receive money?
No. You need your UPI PIN only to pay. Anyone asking for it to send you money is a fraudster.
Official sources
- NPCI – Unified Payments Interface (accessed 30 Oct 2026)
- PIB – UPI completes 10 years (30 Apr 2026) (accessed 30 Oct 2026)
- PIB – UPI remains free for person-to-person and 96% of merchant payments (15 Sep 2026) (accessed 30 Oct 2026)
- NPCI – UPI MDR on select merchant transactions to be implemented post Diwali (13 Oct 2026) (accessed 30 Oct 2026)
- RBI – Annual Report: enhancement of UPI limits (accessed 30 Oct 2026)
- RBI – Turn Around Time and compensation for failed transactions (accessed 30 Oct 2026)
- SBI – UPI FAQs (limits, PIN reset, collect requests, disputes) (accessed 30 Oct 2026)
- NPCI – BHIM UPI guidelines (UPI PIN reset) (accessed 30 Oct 2026)
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