Starting November 1, 2024, two major updates are rolling out for UPI Lite users to make small transactions even more convenient.
Key Updates:
- Increased Transaction and Wallet Limits:
- UPI Lite users will now be able to make transactions up to ₹1,000 per payment, up from the previous limit of ₹500.
- The maximum wallet balance has also been increased from ₹2,000 to ₹5,000, allowing users to hold a larger balance and make more frequent transactions without reloading.
- Auto Top-Up Feature:
- Whenever your UPI Lite wallet balance drops below a certain threshold, it will automatically recharge itself from your linked bank account.
- Users can set their preferred minimum balance and the auto top-up amount as per their choice.
- This feature removes the need for manual recharges, making payments through UPI Lite seamless and hassle-free.
Current Limits for UPI Lite:
- Users can make transactions up to a total of ₹4,000 per day.
- These changes by the Reserve Bank of India (RBI) are aimed at enhancing the payment experience for UPI Lite users.
When Does This Start?
- The UPI Lite auto top-up feature will go live on November 1, 2024. NPCI had announced this feature on August 27, 2024, and advised all UPI Lite users to enable it by October 31, 2024.
What is UPI Lite? UPI Lite is a digital wallet for small transactions, allowing payments without needing to enter a UPI PIN.
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