The Reserve Bank of India (RBI) has announced the launch of a new facility for UPI users. Through this delegated payment feature, a person can authorize another person to make payment through UPI from his bank account.
RBI Governor Shaktikanta Das announced this feature on Thursday, August 8. He informed about starting the delegated payment feature while presenting the monetary policy at 10 am. Let us know about this facility in detail.
What will be your benefit?
Under this facility, a person can authorize another person to make payment through UPI from his bank account. Initially, the payment limit will be fixed in delegated payment . For this, the other person will not need to link his bank account with UPI. RBI Governor Shaktikanta Das said that this will further increase the use of UPI.
Also Read: UPI Payment: RBI Increases UPI Transaction Limit To Rs 5 Lakh For Tax Payments
The use of UPI will increase with the delegated feature
The use of UPI has increased a lot in the last few years. The number of its users has crossed 42 crores. Experts say that in delegated payment, a person will be able to set a UPI transaction limit for payment through UPI from his bank account. This means that if a person does not have money in his bank account, then you can authorize him to make payment from the money deposited in your bank account.
