Question
 The new regulations on UPI transactions will come into
effect from January 1,2024.Consider the following statements with respect to the information provided above- I. The transaction limit for UPI payments made to hospitals and educational institutions has been hiked to Rs 5 lakh from Rs 1 lakh earlier. II. The transaction limit for UPI Lite wallets has also been hiked from Rs 200 to Rs 1000. These payments can be made by people without an internet connection. However, the maximum amount which can be transferred online is Rs 3,000. III. The RBI had also announced that UPI payments to Rs 1 lakh for credit card repayments, mutual fund subscriptions and insurance premiums will no longer require an additional factor authentication. Before the announcement, the limit of money that could be transferred without AFA authentication was Rs 15,000. IV. The NPCI had last year announced the imposition of a 1.1 per cent interchange fee on UPI payments made by merchants. This fee is applicable on some merchant payments where the transaction value is less than Rs 2,000. The fees will not be applicable if the money transferred is higher than Rs 2,000. Which of the following statements is/are TRUE?ÂSolution
The transaction limit for UPI payments made to hospitals and educational institutions has been hiked to Rs 5 lakh from Rs 1 lakh earlier. The transaction limit for UPI Lite wallets has also been hiked from Rs 200 to Rs 500. These payments can be made by people without an internet connection. However, the maximum amount which can be transferred online is Rs 2,000. The RBI had also announced that UPI payments to Rs 1 lakh for credit card repayments, mutual fund subscriptions and insurance premiums will no longer require an additional factor authentication. Before the announcement, the limit of money that could be transferred without AFA authentication was Rs 15,000. The NPCI had last year announced the imposition of a 1.1 per cent interchange fee on UPI payments made by merchants. This fee is applicable on some merchant payments where the transaction value is less than Rs 2,000. The fees will not be applicable if the money transferred is higher than Rs 2,000.
As per Section 12 of the Limitation Act, in computing the period of limitation for any suit, appeal or application, the day from which such period is to...
 Provisions of sections 3 to 13 of The Protection of Children from Sexual Offences Act. shall not apply in case of medical examination or medical treat...
Protection of communications during marriage extends to:
Under the Commercial Courts Act what is the procedure for a person aggrieved by the judgment or order of a Commercial Court at the level of District Jud...
Code of Civil Procedure 1908 is a:
    Whoever threatens another with any injury to his person, reputation or property with intent to cause alarm to that person, or to cause that ...
In Section 2(10) of the Bharatiya Nyaya Sanhita, 2023, the definition of gender now encompasses ________________.
How is the Chief Justice of the Supreme Court of India appointed?
How can an agent’s authority be created?
When a witness fails to comply with the summons __________ may be issued under CG Land revenue code?
Relevant for Exams:
