IPO through UPI, raising investment limit in government securities to Rs. 5 lakh
MUMBAI: The Reserve Bank of India (RBI) has raised the limit for companies to invest in IPOs or government bonds through UPI. Announcing its bi-monthly monetary policy, the Reserve Bank of India (RBI) said it has raised the limit on investments in government securities through IPIs in IPOs and RBI retail direct schemes to Rs. 3 lakh is proposed, while at present this limit is Rs. 3 lakh. Making other announcements regarding UPI payments, the RBI said it was proposing to launch UPI-based payment products for feature phone users. The purpose of which is to enable low amount UPI transactions through 'on-device' wallet in UPI app. This will enable digital payments to reach as many people as possible. There are about 110 million mobile phone users in India, of which about 20 million have smartphones, indicating that a large segment is still using feature phones. The UPI has emerged as a popular payment option for investing in IPOs, said the Reserve Bank Governor. UPI payment fac...