RBI allows e-mandate on UPI for recurring transactions

RBI allows e-mandate on UPI for recurring transactions

• Reserve Bank of India has allowed the Processing of e-mandate for recurring transactions for UPI transactions.

• The maximum permissible limit for a transaction under this arrangement shall be ₹ 2,000/-.

• No charges shall be levied or recovered from the UPI User for availing the e-mandate facility on UPI for recurring transactions.

Points to remember:

1. Maximum permissible limit for e-mandate for recurring transactions for UPI transactions?- Rs 2000