India

RBI Raises UPI Payment Limits for Hospitals and Educational to Rs 5 lakh

In a major decision, the RBI on Friday announced to raise the UPI payment limit to hospitals and educational institutions to Rs 5 lakh from Rs 1 lakh presently and hiked the cap for e-mandates for recurring payments to Rs 1 lakh.

Unveiling the December bi-monthly monetary policy, Reserve Bank Governor Shaktikanta Das said the limit for various categories of Unified Payments Interface (UPI) transactions has been reviewed from time to time.

“It is now proposed to enhance the UPI transaction limit for payment to hospitals and educational institutions from Rs 1 lakh to Rs 5 lakh per transaction,” he said.

Priyanka Koul

Priyanka Koul is a dedicated Sub-Editor at The Daily Guardian, is fueled by a profound passion for uncovering and sharing meaningful stories, particularly those of individuals. Committed to journalism's core principles of integrity, accuracy, and ethical reporting, she embraces a relentless journey of learning and personal growth. Priyanka strives to leave a lasting impact through her storytelling prowess.

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