The facility of making digital payments without the need of internet on feature phones is coming soon.The details were revealed by Reserve Bank of India (RBI) Governor Shaktikanta Das on Wednesday.
Speaking on the occasion, Shaktikanta Das told the media that the Unified Payments Interface (UPI) based products will be available on feature phones in the coming days.According to the RBI, in a statement on development and regulatory policies, proposals to simplify the small transaction process are under consideration.
These transactions are facilitated through feature phones with the aim of increasing the popularity of UPI payments.The UPI payment limit for RBI Retail Direct Scheme, as well as IPO offering applications, will be increased from Rs 2 lakh to Rs 5 lakh.
Through this scheme individuals can open a gilt securities account at RBI and invest in government securities.Shaktikanta Das said a discussion paper would be released on the charges levied on wallets, cards and payment process through UPI.telugu,telugu news,telugu channel,digital payments processor,digital payments,digital payment,online payments,digital payments without internet,rbi digital,rbi digital payments index,rbi digital payments,rbi on digital payments,how to make money with digital payments,internet connection digital payments,rbi upi,rbi upi guidelines,rbi upi limit,rbi upi rules,rbi upi circular,upi payments without internet,reserve bank of india digital payments #DigitalPayments #RBI #Internet
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