RBI governor proposes to increase IMPS transaction limit to Rs. 5 lakh
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The Reserve Bank of India Governor Shaktikanta Das said at the bi-monthly Monetary Policy Committee review meeting that the limit on Immediate Payment Service (IMPS) transactions should be increased to Rs. 5 lakh per transaction from the current limit of Rs. 2 lakh. "In view of the importance of the IMPS system and for enhanced consumer convenience, it is proposed to increase the per transaction limit to Rs. 5 lakh," Mr. Das said.