RBI to introduce single-block-and-multiple debits functions in UPI. Details Here
- RBI said, UPI has features that enable the processing of mandates for recurring transactions and single-block-and-single-debit functionality.
While announcing the December monetary policy, RBI on Wednesday decided to introduce the functionality of a single-block-and-multiple debit in UPI. This is expected to significantly enhance the ease of making payments in e-commerce space and towards investments in securities. RBI will release separate instructions to NPCI shortly.
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