Anupam Mittal, Shark Tank judge and People Group CEO, has filed a protest with the State Bank of India about the Unified Payments Interface (UPI) transaction restrictions on its platform. In a previous post on X, Mittal mentioned that many merchants have been experiencing UPI limit issues for SBI-linked UPI payments. He stated that from July 20, 2024, retailers have been plagued by ‘You have reached the UPI limit established by your bank’ issues.
Checkout Anupam Mittal X’s post
On 16 August 2024, Mittal stated on X, “Congrats @UPI_NPCI for continuing to redefine digital payments. Much needed innovation đđŒ Would also help if we can hold banks to performance. Since July 20th merchants are seeing errors like âuve reached the upi limit set by ur bankâ for @TheOfficialSBI UPI. Not happening with other banks. Nobody @TheOfficialSBI to accept the problem, leave alone tackle it. Not only does this shake confidence in UPI, affects đźđł growth directly given the volume of txns & SBI share @RBI.”
A few weeks ago, the central bank proposed the ‘Delegated Payments facility for the Unified Payments Interface (UPI)’, which was mentioned in Mittal’s post and allows an initial user to provide consent to yet another person to make UPI payments from the initial user’s bank account within a certain amount of time.