-Increased limit of payment for treatment in hospitals and admission in educational institutions.
Mumbai, (Hindustan Reporter). The Reserve Bank of India (RBI) has given great relief to the people. RBI has increased the limit for one-time payment through the popular payment platform Unified Payment Interface (UPI) for treatment in hospitals and admission to educational institutions from Rs 1 lakh to Rs 5 lakh. Its objective is to increase the use of UPI for payments in the fields of medicine and education.
Presenting the review report of the Monetary Policy Committee (MPC) at a press conference here on Friday, RBI Governor Shaktikanta Das said that the decision to increase the current limit of payment through UPI for hospitals and educational institutions from Rs 1 lakh to Rs 5 lakh has been taken. Has been taken. Shaktikanta Das said that the Central Bank will soon issue separate instructions in this regard.
The Reserve Bank had earlier increased the payment limit under UPI to Rs 5 lakh for applications for Retail Direct Scheme (RDS) and IPO (Initial Public Offering). Under the Retail Direct Scheme of RBI, individual investors are also allowed to invest in government securities without intermediaries.
It is noteworthy that except for some categories, the current limit for making payment through UPI is fixed at Rs 1 lakh. The categories to which the Reserve Bank has already given this exemption include capital markets (asset management company, broking, mutual funds etc.), credit card payments, loan repayment, EMI and insurance etc. In these cases the limit for payment through UPI is Rs 2 lakh.
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