RBI more than doubles limit on IMPS to Rs 5 lakh

"In view of the importance of the IMPS system in processing of domestic payment transactions, it is proposed to increase the per-transaction limit from Rs 2 lakh to Rs 5 lakh for channels other than SMS and Interactive Voice Response System (IVRS),"the RBI said as part of its monetary policy announcement.

from Banking/Finance-Industry-Economic Times https://ift.tt/3uSE4uF