Can the UPI limit be increased more than 1 lakh?

Yes, the UPI limit can be increased beyond ₹1 lakh for specific types of transactions. While the standard daily limit remains ₹1 lakh for Person-to-Person (P2P) transfers, categories like Insurance, Capital Markets, and Government e-Market Place payments have enhanced per-transaction limits, some reaching up to ₹5 lakh. Furthermore, the cumulative 24-hour limit for certain high-value transactions, such as collections, can be up to ₹10 lakh, according to NPCI guidelines.