In the world, only our country India is the one where any person gets the best and fastest payment facility, and the biggest reason for this is UPI. With the help of the UPI system today, we can send money to anyone within a few seconds.
Almost every class of people in India use UPI. However, if you use UPI, you will know that you can only transact up to 1 lakh rupees in a day. But you will be very happy to know that the RBI has recently issued a new limit for UPI transactions.
New Transaction Limits with RBI UPI
RBI has allowed transactions up to 5 lakh rupees in a day using the UPI system. However, this limit can only be used for payments to hospitals and educational institutions. After this update, many people will be able to make payments more easily using UPI.
Increased Limit for Loan Payments
RBI has also raised the limit to 2 lakh rupees for loan bill, credit card bill, and mutual fund payments. This update will likely lead to an increase in digital payments in India, promoting the concept of Digital India.
After this update by the RBI, many people are happy because making payment via UPI saves time and allows them to make payments easily. The increase in the UPI transaction limit has brought joy to many people. What are your thoughts on this update? Feel free to share in the comments below.
Conclusion
In conclusion, the new RBI UPI Limit will allow for easier and more convenient digital payments in India. The increase in the transaction limit from 1 lakh to 5 lakhs for certain categories like hospitals, educational institutions, loan payments, credit card bills, and mutual funds will make it more convenient for people to make larger payments using UPI. This update is expected to promote and increase digital payments in India, contributing to the vision of a digital India. With the new RBI UPI limit, people are generally pleased due to the time-saving and convenience it offers when making payments. Overall, this update will have a positive impact on digital transactions in India.
