Soon, Unified Payments Interface users will be able to authorise another individual to carry out UPI transactions using your bank account.
The rollout of delegated payments was announced by Reserve Bank of India (RBI) governor Shaktikanta Das on August 8 as he shared the bi-monthly policy outcome.
Through this facility, a primary customer can authorise another individual, a secondary user, to carry out transactions through the former’s bank account to a specified limit. For example, family members - spouse, children and so on - can execute transactions on behalf of their partners or elderly parents.
Such transactions can be executed by the secondary user without a separate bank account linked to UPI. “This will further deepen the reach and usage of UPI digital payments,” Das said.
The RBI also increased the UPI limit for individuals to pay tax from Rs 1 lakh to Rs 5 lakh.
The details on operationalisation of these measures are awaited.
The monetary policy committee on August 8 decided to leave the repo rate unchanged at 6.5 percent for the ninth time in a row.
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