Big news for the millions of Indians in the UAE: Your UPI app just became a financial powerhouse. The National Payments Corporation of India (NPCI) supercharged daily transaction limits for high-value payments, effective September 15. This is a game-changer for managing your money, from investments to big purchases.

What’s New? The Limits Have Been Boosted

• Capital Markets & Insurance: You can now make single payments up to Rs5 lakh, with a new daily limit of Rs10 lakh (Rs1 lakh=Dh 4,170).
• Credit Card Bills: Pay off a single bill up to Rs500,000, with a daily cap of Rs6 lakh.
• Travel & Loan Repayments: A new daily ceiling of Rs10 lakh makes paying for flights, holidays, and EMIs faster than ever.
  
• Jewellery Purchases: A single transaction can now be up to Rs2 lakh, with a Rs6 lakh daily limit.
  
• Hospital & Education Fees: The daily cap remains a high Rs1 million, with a per-transaction limit of Rs5 lakh.
  

Why This Matters for You in the UAE

This update means you can now handle serious financial transactions with the speed and convenience of UPI, without the hassle of cheques or slower bank transfers. Sending money home for investments, paying large insurance premiums, or settling EMIs has never been easier.

A Record-Breaking Era for UPI

These changes come as UPI continues to break records. In August 2025 alone, it processed a staggering 20 billion transactions, a 34% increase year-on-year, with a total value of Rs24.85 trillion. It’s the go-to payment method for millions, and now it’s even more powerful.

Important Security Update

To combat fraud, NPCI is discontinuing the “P2P collect request” feature from October 1. This is a proactive step to protect users from scams, ensuring that only verified merchants can request payments. Your personal transfers (P2P) will remain secure with the existing daily cap of Rs100,000.

The Bottom Line: UPI is no longer just for small, day-to-day payments. It’s a must-have tool for serious financial management, giving you more control and security over your money from the UAE.

No Indian mobile number required 

NRIs in the UAE can now access UPI using their UAE mobile numbers.

Instant, hassle-free payments 

Transfers can be made 24/7 by scanning a QR code or entering a UPI ID/phone number, without needing bank details.

Eligibility

 Users must hold an NRE (Non-Resident External) or NRO (Non-Resident Ordinary) account with a participating bank in India.

Registration requirement 

The international number must be linked to the account, with KYC completed.

India’s Kotak Mahindra Bank has secured regulatory approval to directly sell investment funds and portfolios to retail investors in the UAE, marking a first for an Indian financial institution.

Kotak International, the global arm of India’s third-largest private lender, announced it had received a licence from the UAE’s Securities & Commodities Authority (SCA). The approval allows the firm to move beyond high-net-worth clients and insurance-linked platforms to directly serve onshore investors.

The company plans to roll out its first India-focused retail funds in the UAE by the final quarter of 2025, with a minimum investment entry point of around $500.

“India has a very wide and diversified story — a young, working population that makes the economy resilient and appealing for global investors,” said Shyam Kumar, president of Kotak International.

The UAE’s tax-free environment on personal income and capital gains further enhances the appeal for cross-border investors, particularly those interested in India’s fast-growing markets.

Indian nationals, who make up about 35% of the UAE population, are already among the top foreign investors in Dubai real estate, purchasing over Dh35 billion ($9.53 billion) worth of property last year. While this demographic forms a strong base for Kotak’s expansion, the firm said it aims to attract the wider investor community in the Emirates.

Source: Reuters

As tensions between Israel and Iran intensify, now with the US involved, experts say the impact could soon be felt far beyond, hitting your wallet in the form of rising fuel, food, and living costs.

Oil prices are already climbing, and economists warn there’s more to come.

Why Oil Prices Are Rising

The Middle East is home to some of the world’s biggest oil producers, and any conflict in the region quickly rattles global markets. Following the US bombing of Iranian nuclear sites, oil prices jumped 3 per cent, and further escalation could push prices well past $100 per barrel, according to experts.

If the Strait of Hormuz shuts down, the supply will be disrupted, and oil prices could spike.

About 20 per cent of the world’s oil supply passes through the Strait of Hormuz, and if it closes, it will send shockwaves across energy markets and supply chains.

What This Means for Everyday People

Higher oil prices affect much more than just what you pay at the pump. Here’s how:

• Fuel and energy costs: Expect higher prices for petrol, electricity, and cooking gas.
• Food and goods: Rising transport and production costs lead to more expensive groceries, clothing, and everyday items.
• Government budgets: Countries that subsidise fuel, like Indonesia and India, could face serious pressure on public spending.

Who’s Most at Risk?

Countries in Asia and some European nations are vulnerable because they rely heavily on oil imports from the Middle East. India, for example, imports around 85 per cent of its crude oil, while Indonesia brings in about 60 per cent. Countries like Thailand and the Philippines also depend on Gulf oil.

If oil prices increase by $10–20 per barrel and stay high:

• India’s oil import bill could grow by $30–40 billion annually
• Indonesia could face cuts to welfare and infrastructure spending
• Some governments may have to choose between fighting inflation or keeping currencies stable

Are There Any Alternatives?

Not really, not in the short term. Oil reserves might provide a short-term buffer, but they won’t last long.

Without substitutes, prices will need to rise to reduce demand, meaning households and businesses will feel the pinch.

The growing conflict in the Middle East could soon mean:

• Higher fuel and electricity bills
• More expensive groceries and goods
• Pressure on government subsidies and spending