UPI Transaction Limit: Reserve Bank of India Governor Shaktikanta Das made a big announcement on Thursday regarding the limit of UPI transactions. RBI has increased the limit of UPI transactions by 5 times and increased it to Rs 5 lakh.
That is, now users will be able to do UPI transactions of up to Rs 5 lakh at a time. Let us tell you that at present, this limit is Rs 1 lakh.
You can transfer Rs 5 lakh from anywhere, anytime
Let us tell you that while announcing the decisions taken in the RBI MPC meeting today, RBI Governor Shaktikanta Das announced a big increase in the UPI limit. Increasing the UPI limit will provide tremendous convenience to the common people and they will be able to transact up to Rs 5 lakh at a time, anytime, anywhere if needed.
Dependence on IMPS, RTGS will reduce
Before this announcement of increasing the limit of UPI transactions, mediums like IMPS, RTGS were used for transactions up to Rs 5 lakh. However, bank customers can also do transactions up to Rs 5 lakh through RTGS and IMPS from their mobile phones. But for this, they should have a facility like mobile banking or internet banking.
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Money reaches instantly with the help of UPI
ut those who do not have access to facilities like mobile banking and net banking have to go to the bank for IMPS and RTGS. In such a situation, with this decision of RBI, now common people will also be able to transfer up to Rs 5 lakh at a time with the help of UPI without visiting the bank. Let us tell you that like IMPS, UPI is also an online instant money transfer mode.
Repo rate kept stable for the 9th consecutive time
Let us tell you that RBI did not change the repo rate for the 9th consecutive time today. While announcing the decisions taken in the RBI MPC meeting which started on 6th August, Shaktikanta Das made a big announcement today and announced to keep the repo rate stable at 6.5 percent.
