Hello friends, how are you, wishing you all happy and prosperous life ahead.
Unified Payment Interface become one of most favourite payment in India as it is easily and quickly do the transaction, even it reduces the dependences of people on cash. During the COVID upi payment helps alot to control spreading the virus, really UPI become the game changer for digital future.
Sachin Castelino, Chief Strategy & Transformation Officer at In-Solutions Global Ltd says that the RBI's decision to increase the limit on UPI payments to healthcare and educational units from Rs 1 lakh to Rs 5 lakh is a significant move that addresses the evolving needs of these sectors.
Good news for all the UPI payment, now it is easy to make your medicals and education bills via UPI. Now RBI Increase the UPI transaction limit from 1 lakh to 5 lakh per Day. It will bring great flexibility and users don't have to split their transaction. It will easy to make hospital bill of upto rs 5 lakh.This will boost the digital market. Sometimes it happens that the hospital officials say that first make the payment and only then we will start the further procedure with the patient.UPI is a method where instant payment is done and the government has done really great by increasing the limit.
It is positive initiative by government to promote cashless transaction and easier payment for essential uses.
The RBI also increased the limit of recurring payment like SIP, rent payment, insurance premium, Mutual fund, stock etc from rs 15000 to rs 1 lakh per month.
Another new feature of UPI is to make payment of rs5000 without the use of UPI set pin.I have seen the advertisement of this feature many times on TV asking to make UPI payment without inserting the UPI PIN.
Making UPI payment not only easy to do but also secure your payment. As it is easy and quick payment between the bank account. UPI allow the Mobile payment without the need of bank card and your bank details. So increased limit will going to help the people to maker Higher payment just simply scan the order ,set Pin and your payment will be done. As going into internet banking is not easily accessible by everyone, login into your internet banking the
enter captcha is quite complex process as compare to UPI payment.
'm the user of UPI, When I step out of the house, I don't worry that I don't have money, I just need to have my mobile with me, then I can buy anything, so I think it is the best benefit of UPI I have my mobile with me then it mean I have money with me. It is important to tell that all the small shopkeepers here like milk, vegetables or eggs vendor, everyone has a UPI QR code,it is easy to make the payment simply scan the QR and make your payment. So UPI has become the best option for making payment.
Do you think it will help to boost digital adoption in India?
Thankyou ...