HomeBusinessRBI Hikes E-Mandate Limit For Recurring Payments To Rs 1 Lakh

RBI Hikes E-Mandate Limit For Recurring Payments To Rs 1 Lakh

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Paytm, PhonePe to introduce UPI Lite soon for smaller e-payments |  Technology News – India TV
  1. The Reserve Bank of India (RBI) has increased the e-mandate limit for recurring payments from INR 15,000 to INR 1 Lakh per transaction.
  2. This increased limit applies to subscriptions to mutual funds, payment of insurance premiums, and credit card bill payments.
  3. Customers can now schedule automated debits up to INR 1 Lakh without requiring an additional factor of authentication.
  4. Earlier in June 2022, the RBI had raised this limit from INR 5,000 to INR 15,000 per transaction across all online subscription categories.
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