The Reserve Bank of India (RBI) has introduced a new feature for UPI users called the “Delegated Payment Facility.”
Announced by RBI Governor Shaktikanta Das on August 8 during the monetary policy presentation, this feature allows you to authorize another person to make payments from your bank account using UPI.
This marks a significant enhancement in UPI’s capabilities, making it even more versatile.
How This Feature Benefits You
With the delegated payment facility, you can grant someone else the right to make payments from your bank account through UPI.
A transaction limit will initially be set for the person you authorize, ensuring control over the payments.
The authorized individual does not need to link their own bank account to UPI, which simplifies the process. This feature is expected to further boost the adoption and usage of UPI across the country.
Boosting UPI Usage with Delegated Payments
UPI’s popularity has soared in recent years, with over 420 million users.
Experts believe that the delegated payment feature will allow users to set transaction limits, enabling someone else to make payments from their bank account when needed.
This could be especially useful in situations where the authorized person has insufficient funds in their own account.
