Friday, September 22

The RBI is recommending an increase in UPI-Lite limit to Rs 500 per transaction.

The picture demonstrating UPI-Lite.

On August 10, the Reserve Bank of India (RBI) announced its plan to raise the UPI-Lite limit from Rs 200 to Rs 500.

The overall limit is kept at Rs 2,000 to manage the risks associated with weaker two-factor authentication, as stated by the statement.

Earlier, the central bank had established a maximum of Rs 200 per transaction and an overall limit of around Rs 2,000 per payment instrument for small value digital payments in offline mode, including the NCMC and UPI Lite.

This story is still in progress, please keep checking back later.

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