By removing the need for a physical card, UPI-ICD makes cash deposits more accessible, particularly for those who may not always have their card handy

Senior citizens often struggle to keep up with tech upgrades and could be prone to such errors. Here’s what you should do if you have sent money to the wrong UPI ID.

In its monetary policy committee meeting (MPC), the Reserve Bank of India (RBI) decided to increase the UPI transaction limits for tax payments to Rs 5 lakh.

While UPI and debit card users can make a payment to the extent funds are available in their bank accounts, credit card users must repay the utilised amount within the due date to avoid interest and penalty.

UPI restricts daily transactions to Rs 1 lakh, but can this limit be increased? Learn more.

Financial institutions provide various senior-friendly banking services for the ease of older people such as doorstep banking, reduced charges and online and offline support.

Senior citizens need to adapt to the changing technology to survive.

Here are some initiatives that helped increase digitalisation and financial inclusion in India, benefitting all citizens, including senior citizens and those living in the remote parts of the country.

Even senior citizens, who were earlier seemed hesitant, have embraced digital banking today for ease and practicality.

RBI has proposed several measures to strengthen the capital market, encourage growth, enhance public confidence and contribute to economic development at itslatest MPC meeting.