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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Class 12 exam paper 'leak' case: Private tutor among two held, four so far
Nagpur (PTI): A private tuition owner and his aide were arrested in connection with the suspected leak of Physics and Chemistry question papers of class 12 exams being conducted by the Maharashtra board in Nagpur, police said on Monday.
With the arrest of Mustafa Khan Munir Khan (42), who runs a teaching academy in the Mominpura area, and his aide Junaid Mohammad Abdul Javed, the number of people held so far has reached four.
Khan and Javed were remanded to police custody till February 26.
According to police, Khan allegedly shared the Chemistry paper on a WhatsApp group named "Tech 1", and Javed posted the answers. One Nishikant Mool had circulated the leaked content among students of his tuition classes.
The incident came to light on February 18 when a supervisor at St. Ursula High School examination centre spotted the paper on a student's phone.
Police said technical surveillance helped trace the accused. However, the original source of the leak remains unknown and further investigation is underway.
