RBI's Payments Vision 2028: UPI Goes Cross-Border, Regulatory Sandbox Turns 'On-Tap'

In March 2026, RBI released its Payments Vision 2028 roadmap, emphasising cross-border UPI expansion, single-window licensing for authorised persons, and NPCI now having the authority to revise P2M transaction limits dynamically without seeking fresh RBI approval — P2P remains capped at ₹1 lakh. For fintech builders: the shift to NPCI-led dynamic limit-setting means product roadmaps for high-value merchant flows (B2B, healthcare, education, travel) can now be planned with greater regulatory flexibility, while the cross-border UPI push opens real GTM paths across 8+ live countries.

Source: Cyril Amarchand Mangaldas Blog ↗