Latest News
-
1:1 Bonus Issue: Multibagger FMCG Stock Under Rs 340 Approves Allotment Of Bonus Share -
1:10 Split, 1:1 Bonus; Akshay Kumar-Endorsed Co Which Allotted 5.6 Crore Bonuses, Aims Rs 18,000 Crore Revenue -
2:1 Bonus Issue Coming Up: Penny Stock Gives 183% Returns Ahead Of Ex-Bonus Date; Eligibility Criteria! -
Heavy Rains Lead to Cancellation of Flights from India to Dubai -
1:2 Stock Split: Record Date On April 24; Buy The Scrip Now To Be Eligible? -
3:1 Bonus Shares: Record Date In 3 Days On 20th April; Buy The Pharma Stock? -
Global Economy Faces 19% Income Reduction by 2049 Owing to Climate Change -
How To Get Pre-Approved Loans At SBI? All You Need Is Four Clicks! -
How To Pick Up The Right Index Funds For Your Portfolio? -
Senate Examines Boeing's Safety Failures in Back-to-Back Hearings
RBI Hikes Investment Limit Via UPI For IPOs, RBI Direct Scheme For G-Sec To Rs. 5 Lakhs
On December 8, 2021, the RBI in its bi-monthly monetary policy outcome announced that it has increased the investment limit via UPI for investment in IPOs and RBI Retail Direct Scheme for G-Secs to Rs 5 lakh from the current Rs. 2 lakh. Meanwhile the other announcements in relation to UPI are as below:
Capitalizing on the novel products from the Regulatory Sandbox on Retail Payments of the RBI, there shall be launched UPI-based payments platform for feature phones.
The 'on-device' wallet mechanism in UPI applications will work to streamline small value transactions.
"UPI is the single largest retail payment system in the country in terms of volume of transactions, indicating its wide acceptance, particularly for small value payments. In order to further deepen digital payments and make them more inclusive, ease transactions for consumers, facilitate greater participation of retail customers in various segments of financial markets and enhance the capacity of service providers", said the governor's statement.
Statement on Developmental and Regulatory Policies on increase in UPI transaction limit for specified categories said "Reserve Bank has been making efforts to facilitate greater participation of retail customers in financial markets, e.g. investment in the G-secs segment through the recent launch of Retail Direct Scheme, where UPI, in addition to other options such as internet banking, can be used to make payments for participating in both the primary and secondary markets. Over time, UPI has also become a popular payment option for Initial Public Offerings (IPOs) since its availability from January 01, 20194. It is reported that IPO applications of ₹2 to ₹5 lakh constitute approximately 10 per cent of subscription applications. The transaction limit in the UPI system was enhanced from ₹1 lakh to ₹2 lakh in March 2020. To further encourage the use of UPI by retail investors, it is proposed to enhance the transaction limit for payments through UPI for Retail Direct Scheme and IPO applications from ₹2 lakh to ₹5 lakh. Separate instructions to NPCI will be issued shortly".
