RBI Grade BNABARD ESISEBI
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Context:
“RBI MPC Unpacked: Key Theory Meets Today’s Macro Trends”Tap to play · from the C4S channel
The Bharat Interface for Money (BHIM) app, operated by the National Payments Corporation of India (NPCI), has rolled out a full delegation feature for UPI Circle. The initiative aims to attract new users to India’s real-time payments ecosystem.
BHIM UPI Circle
UPI Circle Full Delegation allows a primary user to authorize a secondary user to make independent UPI payments from the primary user’s bank account, within predefined limits and timeframes.
Purpose
- Enhance digital inclusion: Enables senior citizens, young adults, or individuals uncomfortable with digital payments to transact securely.
- Ease of household financial management: Parents, elders, or employers can delegate routine payment tasks.
- Support controlled spending: Maintains transparency while allowing delegated transactions.
Key Features
| Feature | Details |
|---|---|
| Transaction Limit | Up to ₹15,000 per month for the secondary user |
| Delegation Period | 1 month to 5 years (as decided by the primary user) |
| Account Requirement | Secondary user can transact via the primary user’s UPI-linked account |
| Transparency | All transactions are visible to the primary user |
| Independent Payments | Secondary user can make payments without prior approval for each transaction |
