look news india
Delegated Payments through UPI: In view of the increasing UPI (Unified Payment Interface) transactions, the Reserve Bank of India is taking several big steps. Till now, if you had to send money to someone through UPI, you had to use your mobile only. If the person did not have a mobile, let alone a UPI registered SIM, then it was impossible to do the transaction. But, now when 46.6 crore users in the country are doing UPI transactions, then in view of this success, RBI is going to change the rules. Now any other person can also do transactions from your account.
It is worth noting that today RBI announced the decisions of the Monetary Policy Committee (August MPC meeting) for the month of August and kept the repo rate unchanged at 6.5 percent. This means that RBI will charge only 6.5 percent interest on loans from banks, so it is expected that banks will not increase the loan rates of customers.
How much money can another person make through UPI payment?
While announcing the decision in the MPC meeting, the RBI Governor referred to the increasing payments through UPI and said that digital payments should be simplified. Meanwhile, he said that the RBI had introduced UPI-Delivery Payments during its August monetary policy. This will allow one person (primary user) to make UPI transactions from the bank account of the primary user to another person (secondary user). The limit of such transactions will be set by the primary user. Announcing this, RBI Governor Shaktikanta Das said, 'This will further increase the reach and usage of UPI digital payments.'
RBI has not given complete information about how much money someone can give. After getting complete information, it will be clear how the payment will be made and how much someone else can pay from your account. However, RBI has said that the other person will be able to make as much payment through UPI as you allow him to do.
