IPO Application to Transaction Below Rs 200 Via UPI, RBI Announces Big Changes

IPO Apply, UPI Payment RBI Monetary Policy Today: RBI has decided to enhance the transaction limit for payments through UPI for the Retail Direct Scheme for investment in G-secs and IPO applications from Rs 2 lakh to Rs 5 lakh.

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New Delhi: Reserve Bank of India (RBI) today make important announcements pertaining to "small value transactions" and Initial Public Offering (IPO) through Unified Payment Interface (UPI) payment system. RBI Governor Shaktikanta Das has said India's central bank took three key decisions to further deepen digital payments, make them more inclusive, ease transactions for consumers, and facilitate greater participation of retail customers.

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These are -

  1. RBI has proposed to launch UPI-based payment products for feature phone users, leveraging on innovative products from the RBI's Regulatory Sandbox on Retail Payments.
  2. RBI aims to make the process flow for small value transactions simpler through a mechanism of 'on-device' wallet in UPI applications.
  3. RBI has decided to enhance the transaction limit for payments through UPI for the Retail Direct Scheme for investment in G-secs and IPO applications from Rs 2 lakh to Rs 5 lakh.

IPO Apply Through UPI

Small Value Transactions Via UPI

UPI-Based Payment Products for Feature Phone

In the first cohort of RBI Regulatory Sandbox, some innovators had successfully demonstrated their solutions for feature phone payments, under the theme of 'Retail Payments'. These products, coupled with other complimentary solutions, will facilitate UPI-based digital payment solutions on feature phones to promote wider digitisation. It is proposed to launch a UPI-based payment product for feature phone users. Further details will be announced shortly, the RBI said in the statement.

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Published Date:December 8, 2021 1:21 PM IST

Updated Date:December 8, 2021 1:35 PM IST

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