4 months, 2 weeks ago
RBI enhances UPI tax payment limit to ₹5 lakh per transaction
The HinduThe Reserve Bank of India has decided to enhance the limit for tax payments via UPI from ₹1 lakh to ₹5 lakh per transaction, Governor Shaktikanta Das announced on Thursday. “As direct and indirect tax payments are common, regular and high value, it has been decided to enhance the limit for tax payments through UPI from ₹1 lakh to ₹5 lakh per transaction. Delegated Payments would enable a UPI user to set a payment limit for another user on their bank account. “This product is expected to add to the reach of digital payments,” and would add to the 424 million individual user base, Mr. Das added.
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