For the first 24 hours after creating your UPI ID - you can pay/transfer/spend upto Rs. 5,000.
Post 24 hours - you can pay/transfer/spend upto Rs. 25,000 (this is the limit per 24 hours).
For example:
If you make a UPI transaction of Rs. 10,000 at 10:30 am today and another transaction of Rs. 15,000 at 1 pm today, then your limit of Rs. 25,000 is completed.
Tomorrow, the limit of upto Rs. 10,000 will get renewed at 10:30 am and the remaining Rs. 15,000 limits will get renewed by 1 pm (it all follows a 24-hour cycle).