The Reserve Bank of India (RBI) has made it easier for people to make online payments using UPI.
Before, you could only pay up to Rs 15,000 at once, but now, for certain things like mutual funds, you can pay up to Rs 1 lakh in a single transaction.
This means you can now pay more money at once without needing extra verification.
This change is part of a decision by the RBI to allow higher limits for recurring payments like mutual fund subscriptions, insurance premiums, and credit card bills.
The limit used to be Rs 15,000, but now it’s been increased to Rs 1,00,000 for one transaction.
The RBI, which oversees these changes, shared this news in a circular about processing recurring transactions.
This move is in response to the growing popularity of UPI for digital payments.
In November alone, there were more than 11.23 billion UPI transactions, showing that many people prefer using UPI for their online payments.
