The Reserve Bank of India has increased the transaction limit for Unified Payment Interface payments from Rs 1 lakh to Rs 5 lakh.
RBI का तोहफा, UPI ट्रांजेक्शन लिमिट 1 लाख से बढ़ाकर ₹5 लाख किया
RBI Governor Shaktikanta Das has announced the decisions taken in the monetary policy meeting. RBI informed that the repo rate has been maintained at 6.5 percent and FY24 GDP growth is estimated at 7%. Apart from this, IBI has also made a big announcement regarding UPI payment. The Reserve Bank of India has increased the transaction limit for Unified Payment Interface payments from Rs 1 lakh to Rs 5 lakh. At present the central bank has implemented this facility to make payments to hospitals and educational institutions.
According to the new rules of RBI, now UPI users in schools, hospitals and other educational institutions and hospitals will be able to pay up to Rs 5 lakh instead of Rs 1 lakh per transaction through UPI. This decision will promote the use of UPI in these institutions. The inconvenience caused in paying hospital bills and school-college fees will be reduced.
Let us tell you, the Reserve Bank of India announced today that it has proposed to increase the limit of UPI auto payment for specific transactions. According to the announcement, additional factor authentication is required when UPI auto-payment is made. Currently this AFA is applicable when auto-payment is made for amounts above Rs 15,000. According to this proposal, this limit is being increased to Rs 1 lakh only for mutual fund subscription, insurance premium subscription and credit card repayment.
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