According to government estimates, the Rs 2,000 limit covers 5 per cent of all UPI transactions. In July, there were approximately 23.7 billion UPI transactions, with a total value of Rs 29.9 lakh crore. An industry source said, "Unlike credit cards, UPI transactions don't involve any funding costs, so setting a maximum limit after covering costs would be appropriate." The limit is 0.40 per cent for debit card transactions up to Rs 20 lakh and 0.90 per cent for transactions above Rs 20 lakh. Regarding the fee charged on UPI transactions, RBI Governor Sanjay Malhotra said it's too early to say how the cost will be covered.