UPI Payment: Reserve Bank of India (RBI) has increased the discount on UPI payment. Now you will be able to make some payments through UPI without any OTP. The government has given relaxation in OTP on autodebit UPI payments up to Rs 1,00,000. That is, now this type of payment will be done without OTP. RBI has approved the proposal to increase the limit of UPI auto payment.
UPI Payment: Reserve Bank of India (RBI) has increased the discount on UPI payment. Now you will be able to make some payments through UPI without any OTP. The government has given relaxation in OTP on autodebit UPI payments up to Rs 1,00,000. That is, now this type of payment will be done without OTP. RBI has approved the proposal to increase the limit of UPI auto payment. This will provide some relief to users doing auto debit using UPI.
Discount will be available on these UPI autodebit transactions
The Reserve Bank of India (RBI) has today approved the proposal to increase the limit of some UPI auto debit payments. After the new changes, Additional Factor Authentication (AFA) is required if UPI auto-payment is made. Currently this AFA is applicable when more than Rs 15,000 is auto debited. Through this, this limit has been increased to Rs 1 lakh only for mutual fund subscription, insurance premium subscription and credit card repayment.
Benefits of setting up UPI auto payment
- Setting up auto debit will save you from late fees and penalties.
- In this, you can choose auto debit option as per your wish. Such as monthly or quarterly etc.
- Recurring is an easy way to make payments.
- Cashless is the best way to make payment.
These announcements were also made in the RBI meeting
RBI has increased the transaction limit for Unified Payment Interface (UPI) payment from Rs 1 lakh to Rs 5 lakh. RBI has implemented this service on payments of hospitals and educational institutes. Today RBI has increased its monetary The policy was announced. While announcing the policy, RBI did not make any change in the interest rates. RBI has kept the interest rates at 6.50%. RBI said that all the members were in favor of not changing the rates.
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