look news india
New rules of UPI: Currently, UPI is a widely used technology for financial transactions. Now from November 1, two new changes have been made in UPI. National Payments Corporation of India (NPCI) has launched auto top-up facility to facilitate small digital payments. Along with this, the transaction limit for UPI Lite has also been increased. Let us know about both these changes in detail.
transaction limit
As per the new update, UPI users can now pay Rs. Can do transactions up to Rs 1,000. Earlier this limit was Rs 500. The maximum limit for maintaining balance in the wallet has also been increased from Rs 2,000 to Rs 5,000. However, the daily transaction limit is only Rs 4 thousand.
What is auto top-up facility?
The Auto Top-up feature automatically recharges the user's account when the UPI Lite account balance falls below a specified limit. Now users can set up to five automatic top-up recharges per day through their UPI app. NPCI said, 'The auto top-up facility will support pinless transactions for payments up to Rs 500.'
convenience for users
To use the auto top-up feature, users must set up auto top-up through their UPI application, users can also cancel this feature at any time. With these features, UPI Lite will become more convenient for daily low-cost transactions. In October 2024, NPCI recorded 16.58 billion UPI transactions, with a total value of Rs. 23.5 trillion.
