MUMBAI: The Reserve Bank of India has raised the limit of transactions through the Unified Payments Interface (UPI) to 5 lakhs. RBI Governor Shaktikanta Das stated that the limit has been increased for transactions related to hospitals and educational institutions. Currently, up to one lakh rupees can be transferred through UPI.
The e-mandate limit for mutual funds, insurance premiums and credit card repayments has been increased from Rs 15,000 to Rs 1 lakh.
The crucial decision was announced along with the announcement of RBI’s bi-monthly lending policy.
