RBI Makes Announcements For UPI
RBI MPC: UPI 123 Pay Limit Per Transaction Has Been Raised By The Central Bank
RBI has increased the transaction limit for UPI 123PAY from Rs 5000 to Rs 10,000. The central bank has increased the UPI Lite wallet limit to Rs 5,000 from Rs 2,000 at present.
UPI 123PAY is an instant payment system for feature phone users who can use the Unified Payments Interface (UPI) payment service safely and securely. Through
UPI 123PAY, feature phone users can undertake a host of transactions based on four technology alternatives.
They include calling an IVR (interactive voice response) number, app functionality in feature phones, missed call-based approach and also proximity sound-based payments
