Connect with us

Hi, what are you looking for?

Banking

RBI enhances cap under e-RUPI to Rs 1 lakh per voucher

The Reserve Bank of India has enhanced the cap under e-RUPI prepaid digital vouchers.

The present cap of e-Rupi vouchers issued by the central and the state governments is Rs 10,000 per voucher. It will be increased to Rs 1 lakh per voucher.

The regulator permits such e-RUPI vouchers to be used more than once until the amount of the voucher is completely redeemed. This will further facilitate the delivery of various government schemes to the beneficiaries more efficiently, said RBI Governor Shaktikanta Das in his monetary policy review speech on Thursday.

The e-RUPI pre-paid digital voucher developed by the NPCI was launched in August 2021.  

NACH mandate limit enhanced

Shaktikanta Das also proposed to increase the NACH mandate limit from Rs 1 crore at present to Rs 3 crore for TReDS related settlements.

“The Trade Receivables Discounting System (TReDS) facilitates the financing of trade receivables of Micro, Small and Medium Enterprises (MSMEs). Transactions in TReDS are settled through the National Automated Clearing House (NACH) system. Keeping in view the requests received from stakeholders and to further enhance the ease of financing the growing liquidity requirements of MSMEs, it is proposed to increase the NACH mandate limit from Rs 1 crore at present to Rs 3 crore for TReDS related settlements,” he stated.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

PR Newswire

Copyright © Glocal Infomart Pvt Ltd. All rights reserved. Usage of content from website is subject to Terms and Conditions.