Now UPI users will be able to pay this amount easily, rules changed

UPI transaction limit: The month of November has started from today. From the beginning of this month, making online payment has become very easy. Actually, in the RBI MPC meeting held in October 2024, some decisions were taken regarding the rules of UPI Lite. Two new rules related to UPI Lite have come into effect from November.

Transaction limit increased

The Reserve Bank of India has increased the limit of UPI Lite transactions. Earlier, UPI Lite users could transact only up to Rs 500. Apart from this, you can keep a balance of only Rs 2,000 in the wallet. According to RBI rules, the daily spending limit in UPI is Rs 4,000.

Now RBI has increased the transaction limit in UPI Lite by Rs 500. This means that a transaction of Rs 1,000 can be done at a time. Apart from this, UPI Lite wallet balance has been increased from Rs 2,000 to Rs 5,000.

New feature in UPI Lite

Now the hassle of adding balance in UPI Lite is over. Yes, hopefully this rule has started from today i.e. 1st November, auto top-up feature has started in UPI Lite. If the balance in UPI Lite wallet gets exhausted then it has to be added manually again.

National Payments Corporation of India (NPCI) aims to simplify the payment system through the new auto-top-up feature. NPCI had issued a notification on 27 August 2024 giving information about this feature of UPI Lite.

How will this feature work?

If the balance of UPI Lite goes below a limit then the balance will be added automatically through this feature. The recharge amount and balance limit will be decided by the user himself. This feature will be top-up only five times in a day.

According to the notification of NPCI, to avail this facility of UPI Lite, the user will have to enable this facility on the UPI Lite app by 31 October 2024.

What is UPI Lite?

All UPI based payment apps like Google Pay, PhonePe, Paytm etc. offer UPI Lite facility. UPI Lite is a kind of digital wallet. Transactions can be done through this wallet without PIN or password. However, only small transactions can be done through it.