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    HomeNewsBusinessBankingRBI Monetary Policy: Tax payment limit through UPI goes up to Rs 5 lakh

    RBI Monetary Policy: Tax payment limit through UPI goes up to Rs 5 lakh

    RBI Gov Shaktikanta Das on August 8 in his monetary policy committee (MPC) after keeping the repo rate unchanged at 6.5 percent announced the UPI measure.

    Jinit Parmar
    August 08, 2024 / 11:22 IST
    The MPC also decided to remain focussed on withdrawal of accommodation stance by a majority of 4:2.

    The Reserve Bank of India (RBI) has raised the tax payment limit through the unified payments interface (UPI) to Rs 5 lakh from Rs 1 lakh, Governor Shaktikanta Das said in his monetary policy review address on August 8.

    The six-member Monetary Policy Committee of the RBI has kept the repo rate unchanged at 6.5 percent and remained focused on the withdrawal of accommodation stance by a majority of 4:2. All other rates like SDF, MSF, Bank Rate too remained unchanged in the MPC review.

    Das said that the domestic economic activities continued to remain resilient. The RBI governor projected the real GDP growth at 7.2 percent for 2024-25.

    This is a developing story.

    Jinit Parmar
    Jinit Parmar is a correspondent based out of Mumbai covering the banking sector, fintechs, NBFCs, insurance and more, tweets @jinitparmar10
    first published: Aug 8, 2024 10:59 am

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