RBI: Automatic UPI payment limit raised to Rs 1 lakh

Mumbai, December 12 The Reserve Bank of India on Tuesday increased the limit for automatic payments through UPI to Rs 1 lakh per transaction from the existing Rs 15,000 for subscription to mutual funds, payment of insurance premiums, and credit...

PTI

Updated At : 02:28 PM Dec 13, 2023 IST

Mumbai, December 12

The Reserve Bank of India on Tuesday increased the limit for automatic payments through UPI to Rs 1 lakh per transaction from the existing Rs 15,000 for subscription to mutual funds, payment of insurance premiums, and credit card bill payments, among others.

As of now, relaxation in Additional Factor of Authentication is permitted while processing e-mandates/standing instructions on cards, prepaid payment instruments and UPI (Unified Payments Interface), for subsequent recurring transactions with values up to Rs 15,000.

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