Automatic payment limit via UPI raised to Rs 1 lakh: RBI
Mumbai, Dec 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 certain categories, including subscription to mutual funds.
As of now, relaxation in Additional Factor of Authentication (AFA) 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.
"...it has been decided to increase the limit from Rs 15,000 to Rs 1,00,000 per transaction for... subscription to mutual funds, payment of insurance premiums, and credit card bill payments," the central bank said in a circular on "processing of e-mandates for recurring transactions".
UPI has emerged a preferred mode of payment for a large section of the population with over 11.23 billion transactions recorded in November.
An announcement in this regard was made by Reserve Bank Governor Shaktikanta Das, while unveiling the December bi-monthly monetary policy last week.
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Two men shot dead, one injured in firing incident in Punjab’s Batala
Chandigarh (PTI): Two persons were shot dead and one sustained injuries after unidentified persons opened fire at them in Punjab’s Batala late Monday night, police said.
The incident occurred in Bhoma village in Sri Hargobindpur subdivision.
Senior Superintendent of Police Batala, Mehtab Singh said some unidentified people opened fire at three persons who were on a walk.
The deceased were identified as Kashmir Singh and Jugraj Singh, according to the SSP. The injured, identified as another man named Jugraj Singh, has been admitted to a hospital.
Preliminary investigation revealed that there was no angle of extortion or any threat call in this incident, said the SSP.
Investigation in the matter is underway and CCTV footage in the area is being scanned, he said, adding that the culprits would soon be traced.
Police have initiated a thorough investigation and are making all efforts to identify and apprehend the accused at the earliest.
“Our teams are working on this case,” he said while replying to a question.
