UPI new updates: In a significant update in the widely popular UPI technology the National Payments Corporation of India has announced changes in UPI settlement cycles. Effective from November 3 the NPCI has decided to segregate authorised and dispute settlements. The move is aimed at improving operational efficiency of the payment system. Here are all the details you need to know about the recent development on UPI cycles. What are the new UPI new updates? At present UPI runs 10 daily settlement cycles via RTGS combining both authorised and disputed transactions. Under the new rules the cycles 1–10 will process only authorised transactions ensuring faster settlements. The decision to segregate authorised and dispute settlements has been taken by NPCL due to the massive rise in UPI volumes. As a result of the move banks and payment partners will be able to complete settlements on time each day thus improving operational efficiency of the payment system. Read more: Make UPI payments with your thumb UPI without QR codes and smartphones is here it works through... NPCI raises daily UPI payment limit on P2M transactions to Rs 10 lakh In another significant update the National Payments Corporation of India (NPCI) raised the Unified Payments Interface (UPI) transaction limits for person-to-merchant (P2M) payments to up to Rs 10 lakh in 24 hours for specified categories effective from September 15. The move seeks to facilitate larger payments in key sectors and enhance digital adoption in high-value segments. The NPCI maintained the person-to-person (P2P) limit at Rs 1 lakh per day a report by IANS news agency said. Earlier users often encountered restrictions forcing them to split payments or revert to traditional methods like cheques or bank transfers. Under the revised framework capital market and insurance payments the per-transaction limit has been hiked from Rs 2 lakh to Rs 5 lakh with a daily limit of Rs 10 lakh. (With inputs from agencies)