New UPI payment limit
The central banks raises the UPI payment limit for healthcare and education from ₹1 lakh to ₹5 lakh.
RBI also flags concerns over firms that aggregate loan offers from different lenders, saying the aggregators could be harming consumers’ interests.
Along with steps to protect borrowers availing loans online, RBI enhanced the UPI payment limits, and the limit on recurring e-payment mandates for credit card and insurance premia payments as well as mutual fund investments to ₹1 lakh from the current limit of ₹15,000.
While the RBI had introduced a regulatory framework for digital lending in late 2022,
RBI Governor said, that several concerns had come to the central bank’s notice relating to the web-aggregation of loan products that were harming consumers’ interests.
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