You can pay up to Rs 5 lakh through UPI
After the new decision of RBI, more payments can be made through UPI in hospitals and schools and colleges. According to the new decision, now transactions at these places can be done up to Rs 5 lakh instead of Rs 1 lakh. This decision will promote the use of UPI in these institutions. The inconvenience caused in paying hospital bills and school-college fees will be reduced.
Let us tell you, except for some categories, the limit for payment through UPI is fixed at Rs 1 lakh. The categories which are already exempted include capital market (asset management company, broking, mutual funds etc.), credit card payments, loan repayment, EMI, insurance etc. In these cases, the limit for payment through UPI is Rs 2 lakh.
The central bank had earlier increased the limit of payment under UPI to Rs 5 lakh for applications for RDS and IPO.
No relief on loan EMI
The Reserve Bank has not made any changes in the repo rate and other policy rates in the monetary policy. In this way the EMI of the loan will remain the same as before. There will be no relief on these. Since there is no change in the repo rate in the monetary policy of RBI, banks will continue to get loans at the same rates. This is the fourth consecutive time that the Reserve Bank has not made any change in its rates.
Boost in real estate sector
This will give a boost to the real estate sector. In which continuous progress is being seen. At present the repo rate is at 6.50 percent. The last time RBI MPC changed the interest rates was in February 2023. After that this state has been maintained continuously. The special thing is that this meeting was the last meeting of the calendar year.
Source: www.tv9hindi.com”