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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Couple suffers severe burns in cylinder blast in Bengaluru
Bengaluru, Mar 26 (PTI): A 45-year-old man and his wife sustained severe burns allegedly after a gas cylinder exploded at their home on Wednesday morning, police said.
Both Siddesh and his 44-year-old wife Shishila are stated to be in critical condition, they said.
The incident occurred in Pulikeshi nagar police station limits, police said.
According to the police, when Siddesh woke up in the morning, he went to the kitchen to make tea. When he lit the gas stove, cylinder suddenly exploded leaving him and his wife severely injured.
Police suspect that a gas leak could have led to the explosion.
Siddesh sustained 45 per cent burn injuries while his wife sustained 90 per cent burn injuries. Both are undergoing treatment at a hospital and are stated to be in critical condition, a senior police officer said, adding further investigation is underway.
