5 months ago
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The Reserve Bank of India raised the UPI payment limits for hospitals and educational institutions from ₹1 lakh to ₹5 lakh per transaction. The announcement was made by Governor Shaktikanta Das while making a statement on RBI monetary policy.
E-mandates for recurring transactions
On E-mandates for recurring online transactions, some specified categories have been reviewed. “RBI to lay down guidelines for web aggregators of loan products to bring more transparency in digital lending,” said Mr. Das.
Currently, an additional factor authentication is required for payment of over ₹15,000. This is now being raised to ₹1 lakh for mutual fund investments, insurance premia payments and credit card payments.
