Mumbai, 8/12: In a major decision, the Reserve Bank of India (RBI) on Friday announced to raise the Unified Payments Interface (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, RBI Governor Shaktikanta Das said the limit for various categories of 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.
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