RBI developed an app to detect unauthorized loan apps!
In a bid to protect customers from fraudulent players in the financial services sector, the reserve bank of india is creating a public repository of wallet PLATFORM' target='_blank' title='digital-Latest Updates, Photos, Videos are a click away, CLICK NOW'>digital lending applications which will be available on its website. It is expected that this measure will put some check on the digitalised loan shark business.
The reserve bank of india has increased the UPI limit for tax payments from Rs 1 lakh to Rs 5 lakh.
The RBI has said that through this, high taxpayers will be able to pay their taxes easily and quickly without any hassle.
Nowadays, the use of UPI is increasing among people. In this case, the transaction limit for UPI is Rs.1 lakh. However, based on various applications, RBI periodically reviews and raises the limits for UPI transactions.
RBI has decided to increase the UPI tax payment limit to enable taxpayers to fulfill their obligations.
UPI currently processes about 50 crore transactions per day and is likely to process more transactions in the future.
RBI has also set up a public repository to prevent problems arising from unauthorized wallet PLATFORM' target='_blank' title='digital-Latest Updates, Photos, Videos are a click away, CLICK NOW'>digital lending apps.
It is worth noting that people can find unauthorized lending apps through public repositories.
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