Technical News Office – The meeting of the Monetary Policy Committee of the Reserve Bank of India (RBI) was held during the month of October. During this period, RBI Governor Shaktikanta Das made no changes in the repo rate for the 10th consecutive time and kept it at 6.5%. However, the decision regarding UPI transactions was made and in the meeting, the limit of UPI Light Wallet was increased by RBI. Let us know how much amount can now be processed via UPI.
UPI Lite wallet limit has been increased compared to UPI 123Pay
In fact, RBI has increased the transaction limit of UPI 123Pay. Now, the limit per transaction has been increased from Rs 5,000 to Rs 10,000. At the same time, the limit of UPI Light Wallet has been increased from Rs 2 thousand to Rs 5 thousand. The limit per transaction of UPI Light Wallet has been increased from Rs 500 to Rs 1000. This will promote digital payments.
What is UPI Lite??
Through UPI Lite, the user has the option of paying without entering the PIN. Many people use UPI Lite to make small payments. For this, earlier the limit per transaction was Rs 500, which has now been increased to Rs 1000. By increasing the limit of UPI Light Wallet to Rs 5000, it will become easier for users to transact.
What is UPI 123PAY?
UPI 123PAY option is available for feature phone users. With this, users benefit from the ability to perform UPI transactions even on phones without internet. Earlier, the limit was Rs 5,000, but now it has been increased to Rs 10,000.
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