UPI Lite Transaction Limit Increased to ₹1,000; Wallet Limit Raised to ₹5,000

Synopsis: RBI Hikes UPI Lite Transaction Limit to ₹1,000, Wallet Cap to ₹5,000; UPI 123PAY Limit Raised to ₹10,000

The Reserve Bank of India has increased UPI lite transaction limit to ₹1,000 and wallet limit to ₹5,000. Additionally, UPI 123PAY limit is now ₹10,000. These steps aim to promote digital payment inclusivity.

RBI Increases Limits for UPI Lite and UPI123Pay Transactions

  • UPI Lite Enhancements:
    • Per-transaction limit increased from ₹500 to ₹1,000.
    • Wallet limit raised from ₹2,000 to ₹5,000.
  • UPI123Pay Updates:
    • Per-transaction limit enhanced from ₹5,000 to ₹10,000.
    • Aimed at expanding use cases for feature-phone users.
  • Key Highlights:
    • UPI123Pay, launched in March 2022, supports 12 languages.
    • These updates aim to boost digital payment accessibility and inclusion.
    • RBI to issue necessary instructions to NPCI for seamless implementation.

These measures are designed to encourage the wider adoption of UPI, facilitating small-value transactions in both online and offline modes.

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