Question
The Reserve Bank of India (RBI) recently raised the
limit for tax payments via UPI. What is the new transaction limit for these payments, and what additional feature has been introduced to enhance the payment experience?Solution
The Reserve Bank of India (RBI) has increased the limit for tax payments via UPI from ₹1 lakh to ₹5 lakh per transaction, addressing the need for high-value transactions in both direct and indirect taxes. Additionally, the RBI has introduced the Delegated Payments feature, allowing a secondary user, such as a spouse, to make payments using the primary user's bank account. This feature also enables users to set a payment limit for others on their account, enhancing the flexibility and usability of digital payment systems for the 424 million UPI users in India.
Banks shall not publish the internal benchmark for which one of the following maturities:
Which initiative did IndoSpace launch to become the largest Infrastructure Investment Trust (InvIT) in India’s industrial and logistics sector?
RIDF is recently in news, Identify the “I” ?
To make SWIFT movement of inward remittances easier and faster for its customers ____ bank has launched the ‘Smart Wire Service’.
Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE) was introduced by creating a CGTMSE Trust by Govt of India and ….
Who has been honoured with the M.S. Swaminathan Award for significant contributions in the field of agronomy?
A bank certificate issued in more than one country for shares in a foreign company. The shares are held by a foreign branch of an International Bank. T...
Which of the following NBFCs will be appointing the internal Ombudsman as per the recent guidelines of RBI?
Which of the following term is used when net borrowing ceiling for states has been fixed at 4% of the projected GSDP for FY 2021-22?
Which of the following statements about IPOs is/are correct?
It provides a company access to funds through the public capital market.
...
Relevant for Exams:
