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News Business RBI increases UPI transaction limit for tax payments to Rs 5 lakh

RBI increases UPI transaction limit for tax payments to Rs 5 lakh

RBI Governor Shaktikanta Das also proposed creating a public repository of digital lending apps to curb unauthorized players and expressed concerns over the rising disbursals of top-up home loans.

UPI transaction limit Image Source : FILE PHOTOUPI transaction limit increased for tax payments to Rs 5 lakh.
Edited By: Nitin Kumar
Published : Aug 08, 2024 10:59 IST, Updated : Aug 08, 2024 11:10 IST

In a significant update, the Reserve Bank of India (RBI) announced on Thursday that the UPI transaction limit for tax payments has been increased from Rs 1 lakh to Rs 5 lakh per transaction. This change was revealed by RBI Governor Shaktikanta Das during the announcement of the third bi-monthly monetary policy for the current financial year.

 

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