BIG changes proposed by RBI
1. RBI Now Allows 2 Users Using Same Bank Account For UPI Payments in New Rules
You can Extend your UPI Linked Bank Account To Family Members
This Means, One Bank Account Can Be Used By Senior Citizens, Minors etc on Two Different Mobile Number/Smartphone
No Need To Open a Separate Bank A/C
2. Limit From ₹1 Lakh Has Been Extended To ₹5 Lakh for Tax Payments Using UPI
3. 15 Days Reporting to CICs
Your Information Related to Loans, Credit Cards Shall Be Updated in Every 15 Days by Banks To Credit Information Companies (CIBIL, Experian etc)
Currently This is on Monthly Basis
4.Repository of Digital Loan Apps
RBI Proposed Creating Public Repository of Digital Lending Apps
This Will Prevent Unauthorised and Fraudulent Loan Apps and Help Borrowers
5. Faster Cheque Clearance
Cheque Clearing Cycle To Be Reduced in Just Few Hours Instead of T+1 Day
This is Another Revolutionary Move.
By: via AlliesFinServe #StockMarket #Bharat Telegram.me/AlliesFin
