RBI Retail Direct Scheme: Transaction limit through UPI payments increased from Rs 2 lakh to Rs 5 lakh

Prime Minister Narendra Modi launched two innovative customer centric initiatives of the Reserve Bank of India --RBI Retail Direct Scheme and the Reserve Bank - Integrated Ombudsman Scheme --last month.

New Delhi: RBI Governor Shaktikanta Das on Wednesday announced to enhance the transaction limit for payments through UPI for the Retail Direct Scheme from Rs 2 lakh to Rs 5 lakh.

Das announced to "enhance the transaction limit for payments through UPI for the Retail Direct Scheme for investment in G-secs and Initial Public Offering (IPO) applications from Rs 2 lakh to Rs 5 lakh."

Prime Minister Narendra Modi launched two innovative customer centric initiatives of the Reserve Bank of India --RBI Retail Direct Scheme and the Reserve Bank - Integrated Ombudsman Scheme --last month.