RBI Raises UPI Limit to Rs. 5 Lakh for Tax Payments, Introduces Delegated Payments Feature

The Reserve Bank of India (RBI) recently announced an increase in limit of Unified Payments Interface (UPI) transactions for tax payments. The decision was made as a part of RBI’s Monetary Policy announcement last week. With this, users can now transact up to Rs. 5,00,000 while settling their tax liabilities. Earlier, this limit was kept at Rs. 1,00,000.