RBI Increased UPI Lite Transaction Limit to ₹1,000 & Wallet Limit to ₹5,000

byPriyanka JuyalLast Updated: October 9, 2024

The Reserve Bank of India (RBI) has revised the UPI Lite transaction limit, raising it from ₹500 to ₹1,000, while increasing the overall wallet limit from ₹2,000 to ₹5,000.

The Reserve Bank of India (RBI) has announced important changes to the Unified Payments Interface (UPI) to make digital payments easier and more accessible for everyone. The limit for UPI Lite transactions has been increased from ₹500 to ₹1,000, while the overall wallet limit for UPI Lite has been raised from ₹2,000 to ₹5,000.

RBI Governor highlighted how UPI has changed India’s financial landscape, stating, “UPI has transformed India’s financial landscape by making digital payments accessible and inclusive through continuous innovation and adaptation. To further encourage wider adoption of UPI and make it more inclusive, it has been decided to enhance the per-transaction limit in UPI123Pay from ₹5,000 to ₹10,000, and to increase the UPI Lite wallet limit from ₹2,000 to ₹5,000 and per-transaction limit from ₹500 to ₹1,000.”According to the RBI’s Development and Regulatory Policies, these updates are part of a larger effort to make UPI products more widely used.

UPI Lite: Previously, UPI Lite had a transaction limit of ₹500 and an overall wallet limit of ₹2,000, with the option for auto-replenishment. To expand its usability, the RBI has decided to raise the UPI Lite wallet limit to ₹5,000 and the per-transaction limit to ₹1,000. The framework enables small-value payments in offline digital modes, which includes UPI Lite, will be amended accordingly.

Paytm UPI Lite

Paytm’s UPI Lite is a feature that simplifies quick and easy small-value payments. This also means that you can keep your bank statement clutter-free and clean. With Paytm UPI, users can make transactions without needing to authenticate each payment, making it ideal for everyday purchases.

The UPI Lite transaction limit has been raised to ₹1,000, and users can maintain a balance of up to ₹5,000 in their UPI Lite wallet for convenient access. Overall, UPI Lite aims to make digital payments simpler and more accessible for everyone in India.

How to Set Up UPI Lite Account on Paytm?

These changes reflect the RBI’s ongoing commitment to fostering a more inclusive and innovative digital payment ecosystem in India.

Also know about: UPI Lite X: The Next Generation of Payment Solutions

Priyanka Juyal

Priyanka Juyal- a Writer with a curious mind & vision to create the best out of words. Other times, see her playing the guitar, sketching or narrating folk tales!

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