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UPI limit increased: RBI Governor has given a gift to the common people by increasing the transaction limit of UPI. Through this, customers doing small transactions are going to get the most benefit. Apart from this, great news has also been given regarding UPI Lite and UPI 123 Pay. Three major changes have been made regarding UPI and it will benefit the common people as well as those doing small transactions the most.
Know 3 big decisions of RBI on UPI
1. UPI 123 Pay limit has been increased from Rs 5000 to Rs 10,000.
2. The wallet limit of UPI Lite has also been increased from Rs 2000 to Rs 5000 and through this the common people will get a big benefit because they use UPI Lite a lot for small transactions.
3. The per transaction limit of UPI Lite has also been increased from Rs 500 to Rs 1000.
RBI Governor Shaktikanta Das said a big thing about the importance of UPI
RBI Governor Shaktikanta Das said that there has been a big change in the economic scenario of India through UPI transactions. Due to this, money transaction in the country has become very easy and accessible.
No change in EMI of home loan-car loan
The Reserve Bank of India (RBI) has not made any change in the repo rate for the tenth consecutive time in its credit policy and has kept it at 6.5 percent. Same repo rate means that there is less possibility of change in your EMI on different loans including home loan, auto loan.
RBI Governor's thoughtful speech
The RBI Governor said that the financial sector is healthy, vibrant and stable and the Indian currency rupee remains largely range bound. Due to the current economic challenges and global scenario, RBI has adopted a cautious approach and will remain agile and flexible in cash management. He also said that the health of Indian banks is strong and there is a need to remain cautious about rising consumer loans and credit card dues.