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    Question

    As per the recent (August 2024) Statement on

    Developmental and Regulatory Policy by the RBI, what is the new limit for UPI for tax payment?
    A Rs. 1 Lakh Correct Answer Incorrect Answer
    B Rs. 2 Lakh Correct Answer Incorrect Answer
    C Rs. 5 Lakh Correct Answer Incorrect Answer
    D Rs. 10 Lakh Correct Answer Incorrect Answer
    E Rs. 20 Lakh Correct Answer Incorrect Answer

    Solution

      The RBI has raised the limit for UPI payments for tax purposes to Rs. 5 Lakh as per the Statement on Developmental and Regulatory Policy released in August 2024.

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