RBI proposes to increase UPI transaction limit from Rs 2 lakh to Rs 5 Lakh

[Abhishek012]

It is proposed to (i) launch UPI-based payment products for feature phone users, leveraging on innovative products from the RBI’s Regulatory Sandbox on Retail Payments; (ii) make the process flow for small value transactions simpler through a mechanism of ‘on-device’ wallet in UPI applications; and (iii) enhance the transaction limit for payments through UPI for the Retail Direct Scheme for investment in G-secs and Initial Public Offering (IPO) applications from ₹2 lakh to ₹5 lakh.

Official Press Release Source Link - Governor’s Statement: December 08, 2021

 

[Bapun]

RBI proposed to increase UPI transaction limit for investing in Initial Public Offerings to ₹ 5 lakh from its current limit of ₹ 2 lakh.

RBI Proposes To Increase UPI Transaction Limit For IPOs To Rs 5 Lakh

www.ndtv.com

 

[Optimus_Prime]

good decision ahead of LIC ipo .