“In a significant move, the Reserve Bank of India (RBI) has raised the UPI transaction limit for tax payments from ₹1 lakh to ₹5 lakh per transaction. This update is expected to simplify and accelerate high-value tax payments across the country. Additionally, the RBI has introduced a new feature called ‘Delegated Payments’ through UPI, allowing a secondary user, like a spouse, to make payments using the primary user’s bank account. This feature is set to expand the reach of digital payments in India, adding to the already massive 424 million UPI user base.
date 2024-08-09 04:50:29
author UC4RNY6kg12JiLFOJzw1tBxQ
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