UPI Payment New Feature: After the monetary policy review, the Reserve Bank of India has made several announcements, one of which has also been made regarding UPI payment. In today’s era, Unified Interface Payment has become a major platform for transactions. A large population of the country uses it for payment. Very soon users will get a new facility.
Blocking of funds and making payments on UPI is going to be available for buying and selling shares, hotel booking and other transactions. On December 7, RBI Governor Shaktikanta Das announced the facility of Single Block and Multiple Debit of UPI, saying that “The decision to increase the capacity of UPI to allow users to block funds in their accounts for payment of services has been taken. This will make it easier to make payments on e-commerce and investments in securities.
Under this facility, there will be a facility to block the amount to be deducted for various works, which has been announced by the Central Bank. Users will be able to decide the amount of payment as per the requirement for the respective merchant. With this feature, the transaction will be easy for e-commerce and investing in shares. It can be used under the Central Bank’s retail direct scheme to buy securities. On Wednesday, the RBI has increased the repo rate by 0.35 percent. The repo rate has been increased for the fifth time in a year. Whose effect will be on the customers taking the loan.