Sakchi Jain Highlights Two Major Changes in Financial Transactions by RBI

CA Sakchi Jain is a popular finance influencer. She is known for making financial concepts easy to understand. She has discussed the changes made by RBI in transactions. She highlighted the major two changes.

Fivefold Increase in Transaction Limits for Hospitals and Schools:

In a groundbreaking move, the RBI has elevated the transaction limits for hospitals and schools. CA Sakchi Jain unveils that the previous cap of one lakh rupees has been expanded to an impressive five lakh rupees. This transformation is poised to streamline financial transactions for critical services like healthcare and education, providing a more flexible and efficient framework for both institutions and patrons.

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Substantial Boost in E-Mandate Limits for Credit Card, Mutual Fund, and Insurance Payments:

CA Sakchi Jain divulges another pivotal change orchestrated by the RBI concerning electronic mandates for credit card payments, mutual funds, and insurance premiums. The E-Mandate limit, which previously stood at 15,000 rupees, has witnessed a substantial surge, soaring to one lakh rupees. This adjustment is expected to facilitate smoother and more convenient financial transactions, offering individuals the flexibility to set higher mandates for recurring payments.

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