RBI Increases UPI Transaction Limit
By MYBRANDBOOK
The RBI's decision to increase the UPI transaction limit for education and healthcare payments to ₹5 lakh is indeed a positive development with several potential benefits.
With this there is increased convenience, the higher limit eliminates the need for individuals to use multiple transactions or alternative payment methods for larger education and healthcare bills, making the process faster and more convenient.
This move encourages greater adoption of digital payments, particularly among individuals who may not have access to traditional banking services. This can contribute to financial inclusion and promote a more cashless society.
With this paying for education and medical bills just got easier! RBI hikes the UPI transaction limit for these categories to ₹5 lakh per day. This means simpler transactions, enhanced convenience, and a boost for digital payments in India.
Utilizing UPI for large payments typically involves lower transaction fees compared to other methods like bank transfers or credit cards. This can benefit both individuals and institutions.
Overall, the RBI's decision to raise the UPI limit for education and healthcare payments is a welcome step with numerous benefits for individuals, businesses, and the economy. While challenges exist, addressing them proactively can ensure a smooth transition and maximize the positive impact of this initiative.
Microsoft to build a new data centre to support Thailand's tec
Microsoft has revealed intentions to construct a regional data centre as w...
SAP launches cloud services to help Indian scaleups innovate m
SAP at SAP unveils now "GROW with SAP for Scaleups," a new cloud service d...
Denodo and Sonata form alliance to unlock data-to-value creati
Denodo and Sonata Information Technology India Limited (SITL) have annou...
Google Play Store will now let users download two apps simulta
Google Play Store now lets users download two apps simultaneously. While a...
TAC SECURITY SOLUTIONS
HP INDIA SALES PVT. LTD.
NUMERIC INDIA, A Group Brand Legrand
SAFE SECURITY SERVICES PVT. LTD.
Technology Icons Of India 2023: Harsh Jain
Harsh Jain is an Indian Entrepreneur, the co-founder and CEO of the In...
Technology Icons Of India 2023: Kumar Mangalam Birla
Aditya Birla Group chairman Kumar Mangalam Birla’s return to Vodafon...
Technology Icons Of India 2023: Vijay Shekhar Sharma
Vijay Shekhar Sharma is an Indian technology entrepreneur and billiona...
CSCs enabling rural India digitally empowered
Common service centres (CSCs) are digital access points under the Digi...
RailTel connecting every corner of India
RailTel is an ICT provider and one of the largest neutral telecom infr...
STPI encouraging software exports from India
Software Technology Parks of India (STPI) is an S&T organization under...
TECH DATA, A TD SYNNEX COMPANY
Tech Data Corporation was an American multinational distribution compa...
RAH INFOTECH
RAH Infotech is India’s fastest growing technology value added dist...
B D SOFTWARE
BD Software is the distributor of IT security solutions in India. The ...