UPI Limit Increased By RBI: 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 benefit the most. Apart from this, great news has also been given regarding UPI Lite and UPI 123Pay. Three major changes have been made regarding UPI and the common people and those doing small transactions are going to get the maximum benefit from it.
Know 3 big decisions of RBI on UPI
1. The limit of UPI 123Pay 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 extensively for small transactions.
3. The per transaction limit of UPI Lite has also been increased from Rs 500 to Rs 1000 per transaction.
RBI Governor Shaktikanta Das said a big thing about the importance of UPI
In the announcements of RBI, RBI Governor Shaktikanta Das said that there has been a big change in the economic landscape of India through UPI transactions. Due to this, money transaction in the country has become very easy and accessible.
No change on home loan-car loan EMI
The Reserve Bank of India (RBI) did not make any change in the repo rate in its credit policy for the tenth consecutive time and has maintained it at 6.5 percent. Repo rate remaining the same means that there is less possibility of change in your EMI on different loans including home loan, auto loan.
RBI Governor’s restrained speech
The RBI Governor said that the financial sector is healthy, resilient and stable and the Indian currency rupee remains largely within a limited range. 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 loan and credit card dues.
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RBI MPC: RBI changed its monetary policy stance to neutral, did not change repo rate and changed GDP estimates.
