![RBI hikes UPI limit for hospital, educational payments RBI hikes UPI limit for hospital, educational payments](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhiYPYjmX19qAu0IoTkTP6rqO3TyUOv7QTR9rvLu9e0LeS2fYVZfR4aH3TSx91F55srltEARw-gkZpdVTAU8eSbCCKbAMuUBSHrE5PYinzW28skaUM9TxfD4MhBD8nSlPZUlMkzogb6b5T2nSL-J7qIpQwjSpRibn5DDyD_2F2t5N4zFdANDIjuFPTugLpy/w320-h192-rw/Copy%20of%20Copy%20of%20Copy%20of%20Untitled%20(500%20%C3%97%20300%20px)%20(500%20%C3%97%20280%20px)%20(14).png)
- The move is expected to benefit hospitals and patients alike, as it will enable faster and smoother transactions for medical expenses and education fees.
- The UPI transaction limit for normal payments is up to Rs 1 lakh per transaction.
- For some specific categories of transactions in UPI, like capital markets, collections, insurance, and foreign inward remittances, the transaction limit is up to 2 lakh.
- The RBI said that these measures are aimed at enhancing customer convenience, promoting digital payments, and supporting financial inclusion.
Question:
Q.1 What is the new UPI payment limit for hospitals and educational institutions announced by the RBI?a. Rs 50,000
b. Rs 1 lakh
c. Rs 5 lakh
d. Rs 10 lakh