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UPI Transaction Limits: The Reserve Bank of India has announced the increase in UPI transaction limit in the monetary policy meeting. RBI has increased the transaction limit on UPI Lite to Rs. 1000 and UPI 123Pay transaction limit increased to Rs. 10000 done.
What did the Governor say?
RBI Governor said, UPI is playing an important role in India's digital financial landscape. There are constant innovations taking place to make it more simple and inclusive. Per transaction limit on UPI Lite is Rs. Rs 500 were increased. 1000 and UPI 123 paise per transaction limit Rs. Increase to Rs 5000. It has become 10000. So that people can easily make digital payments.
Wallet limit also increased
Along with increasing the UPI per transaction limit, the wallet limit of UPI Lite has also been increased. Now balance up to Rs 5000 can be maintained in UPI Lite Wallet. Which is currently Rs. It was 2000.
What is UPI 123 Pay?
UPI 123 was launched in March 2022, making it possible for feature-phone users to use UPI. Which is now available in 12 regional languages. Currently the per transaction limit is Rs. Was 5000. Which increased to Rs. It has become 10000. In which IVR number, missed call pay and OEM based payment can be done. Apart from this, payment is also done with the help of sound technology. UPI Lite is an offline digital payment facility. In which transactions can be done even without PIN.