Unified Payments Interface: 4 interesting things RBI Governor Shaktikanta Das said on UPI at Mint BFSI Summit and Awards
cryptocurrency remains unchanged. “Traveling down that path will create huge risks.
I don't think the world or emerging markets can take a crypto mania like the Tulip mania". On December 8, Shaktikanta Das made two announcements related to UPI in India.
The first announcement was related to "enhancing UPI transaction limit for specific categories" such as payments to hospitals and educational institutions from the current ₹1 lakh to ₹5 lakh. The second was related to the enhancement of the limit in e-mandates for recurring payments for specified categories.
Thus limits for e-Mandates for making payments of a recurring nature have been raised to ₹1 lakh for mutual fund subscriptions, insurance premium subscriptions, and credit card repayments. It is a mobile-based fast payment system, which facilitates customers to make round-the-clock payments instantly using a Virtual Payment Address (VPA) created by the customer.
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