“New UPI Update Allows Account Holders to Authorize Others for Transactions”
In a significant update to the Unified Payments Interface (UPI), the Reserve Bank of India (RBI) has introduced a new feature that allows primary account holders to authorize secondary users to make transactions from their bank accounts. This feature was announced by RBI Governor Shaktikanta Das on Thursday, August 8, alongside the announcement of the RBI’s monetary policy outcomes.
In a significant update to the Unified Payments Interface (UPI), the Reserve Bank of India (RBI) has introduced a new feature that allows primary account holders to authorize secondary users to make transactions from their bank accounts. This feature was announced by RBI Governor Shaktikanta Das on Thursday, August 8, alongside the announcement of the RBI’s monetary policy outcomes.
The new delegated payment feature enables a primary account holder to designate another individual, known as a secondary user, to conduct transactions on their behalf. This authorization comes with a specified limit, ensuring that the secondary user can only transact up to the amount set by the primary user.
Governor Das highlighted that this new functionality aims to “further deepen the reach and usage of UPI digital payments,” reflecting the RBI’s ongoing commitment to enhancing the convenience and security of digital financial transactions.
The announcement came as the RBI’s monetary policy committee decided to maintain the repo rate at 6.5% for the ninth consecutive time. This move is expected to have broader implications for the Indian economy and financial sector, including the new UPI feature, which is anticipated to increase the accessibility and adoption of digital payment methods across the country.
Sources By Agencies
About The Author
Eu concordo com todas as ideias que você introduziu em sua postagem. Elas são muito convincentes e com certeza funcionarão. Mesmo assim, as postagens são muito curtas para iniciantes. Você pode prolongá-las um pouco para as próximas vezes. Obrigado pela postagem.