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In a bid to encourage wider adoption of digital payment systems, the Reserve Bank on Wednesday increased the UPI Lite wallet limit to ₹5,000 and per-transaction limit to ₹1,000.
In October, the RBI had stated its intention to adjust these limits as part of its monetary policy. “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,” it had said then.
Currently, there is a limit of ₹500 per transaction and an overall limit of ₹2,000 per UPI Lite wallet.
UPI Lite enables users to make fast, one-click transactions without the need to enter the PIN. The UPI Lite feature was launched by the RBI in September 2022 to ease the UPI transaction process and is enabled by the National Payments Corporation of India (NPCI).
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