UPI Lite per transaction limit hiked to ₹1,000; UPI Lite wallet limit raised to ₹5,000

October 9, 2024

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October 9, 2024 0 comment

Oct 09, 2024 11:22 AM IST

RBI raises UPI lite transaction limit to ₹1,000 and wallet limit to ₹5,000. UPI 123PAY transaction limit increased to ₹10,000.

The Reserve Bank of India (RBI) announced a hike in the UPI lite per transaction limit to ₹1,000 from ₹500. The central bank also hiked the UPI lite wallet limit to ₹5,000 from currently ₹2,000. The RBI also has hiked the UPI 123PAY per transaction limit to ₹10,000 from ₹5,000.

1,000 and wallet limit to ₹5,000. Additionally, UPI 123PAY limit is now ₹10,000. These steps aim to promote digital payment inclusivity.” title=”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.”>

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.

The RBI governor said, “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 (i) enhance the per-transaction limit in UPI123Pay from ₹5,000 to ₹10,000; and (ii) increase the UPI Lite wallet limit from ₹2,000 to ₹5,000 and per-transaction limit from ₹500 to ₹1,000.”

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ii) UPI Lite: A limit of ₹500 per transaction and an overall limit of ₹2000 per UPI Lite wallet, is presently applicable, with the facility of auto-replenishment. To widen the scope of usage of this product, it has now been decided to increase the UPI Lite wallet limit to ₹5,000 and per-transaction limit to ₹1,000. The framework for facilitating small value payments in offline digital mode, issued by the Reserve Bank, under which UPI Lite has been enabled, will be suitably amended.”

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Copyright 2024 - All Rights Reserved - Janashakti.News

RBI raises UPI lite transaction limit to ₹1,000 and wallet limit to ₹5,000. UPI 123PAY transaction limit increased to ₹10,000.

Read more: RBI projects 7.2% GDP growth for FY25, CPI inflation to moderate at 4.5%

Read more: Home loan customers may have to wait as much till December for an EMI cut as RBI keeps rates unchanged: Report

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Copyright 2024 - All Rights Reserved - Janashakti.News

UPI Lite per transaction limit hiked to ₹1,000; UPI Lite wallet limit raised to ₹5,000

RBI raises UPI lite transaction limit to ₹1,000 and wallet limit to ₹5,000. UPI 123PAY transaction limit increased to ₹10,000.

Read more: RBI projects 7.2% GDP growth for FY25, CPI inflation to moderate at 4.5%

Read more: Home loan customers may have to wait as much till December for an EMI cut as RBI keeps rates unchanged: Report

RBI projects 7.2% GDP growth for FY25, CPI inflation to moderate at 4.5%

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