Cheer for
UPI Lite
users! The Reserve Bank of India (RBI) governor
Shaktikanta Das
on Friday announced new measures for UPI Lite users. The announcement was made as a part of the RBI’s
Monetary Policy Statement
. According to the new measures, users of UPI Lite can now auto replenish their
UPI Lite Wallet
using the
e-mandate framework
.
Making the announcement, Shaktikanta Das said, “UPI Lite was introduced in September 2022 to enable
small value payments
in a quick and seamless manner through an on-device wallet.
To encourage wider adoption of UPI Lite, it is now proposed to bring it under the e-mandate framework by introducing a facility for customers to automatically replenish their UPI Lite wallets if the balance goes below the threshold limit set by them.” “This will further enhance the ease of making small value digital payments,” he said.
This story is being updated
