RBI's Game-Changing Moves
RBI's Game-Changing Moves: UPI Transaction Limits and E-Mandates Elevated Revolutionizing Digital Payments: RBI's Latest Announcements In a significant stride towards fostering digital financial inclusivity, the Reserve Bank of India (RBI), under the leadership of Governor Shaktikanta Das, has unveiled a series of pivotal decisions. The latest announcements focus on elevating the Unified Payments Interface (UPI) transaction limits and expanding the scope of e-mandates for recurring payments. 1. UPI Transaction Limits Soar In a move aimed at facilitating seamless transactions for critical sectors, the RBI has decided to raise the UPI payment limit for hospitals and educational institutions. The limit, previously set at ₹1 lakh, has now been elevated to a substantial ₹5 lakh per transaction. Implications of the UPI Limit Increase: Empowering Education: The enhanced UPI limit empowers individuals to make substantial payments of up to ₹5 lakh for educational purposes. This monume...