NEW DELHI: The Reserve Bank of India (RBI) proposed raising the cap on e-RUPI prepaid digital vouchers on Thursday.

The present cap of Rs 10,000 would be lifted to Rs 1 lakh per voucher and such coupons will be allowed to be used more than once, RBI Governor Shaktikanta Das said while delivering the latest monetary policy meeting outcome.

This enhancement is expected to improve the efficiency with which various government schemes are delivered to beneficiaries, he said. Das stated that the National Payments Corporation of India (NPCI) launched the e-RUPI pre-paid digital voucher in August 2021.

In addition, Das stated that India's GDP will increase at a rate of 7.8 percent in FY2022-23. As a result, real Gross Domestic Prodsuct (GDP) growth is expected to be 17.2 percent in Q1FY2023, 7 percent in Q2, 4.3 percent in Q3, and 4.5 percent in Q4, respectively.

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