The Reserve Bank of India (RBI) on Friday decided to raise the UPI transaction limit for payments to healthcare units like hospitals and educational facilities like colleges and schools to Rs 5 lakh, from the current Rs 1 lakh. RBI Governor Shaktikanta Das on Friday also announced new limits for e-mandates for recurring payments.
As part of the decision on e-mandates, the RBI has proposed to increase the limit for additional factor authentication (AFA) to Rs 1 lakh, for mutual fund investments, insurance and credit card repayments. Till now, payments above Rs 15,000 require AFA.
Source By: news18
