What is the new upper transaction limit for tax payments using the Unified Payments Interface (UPI) as per the National Payments Corporation of India's recent update?

Correct option is E

The new upper transaction limit for tax payments using UPI has been raised to ₹5 lakh per transaction.
Details-
· NPCI Update: The UPI transaction limit has been increased for high-value categories, effective from September 16, 2024.
· Applicable Sectors:
· Tax Payments: Users can pay up to ₹5 lakh per transaction.
· Healthcare: Verified hospitals can now accept payments up to ₹5 lakh.
· Educational Fees: Educational institutions are covered under the raised limit.
· Financial Investments: Applicable to IPOs, government securities, and select financial instruments.
· Standard UPI Transactions: The limit remains at ₹1 lakh for peer-to-peer transfers and other standard transactions.