RBI Increases Transaction Limits For UPI123Pay, UPI Lite

The Reserve Bank of India (RBI) has decided to increase the transaction limit for UPI123Pay and UPI Lite to further increase UPI adoption 👇

Following the meeting of the RBI’s Monetary Policy Committee (MPC), the central bank said that the per transaction limit of UPI123 Pay will be increased to INR 10,000 from INR 5,000 currently.

Besides, the transaction cap for UPI Lite will be enhanced to INR 1,000 from INR 500 currently. To further increase its use, the central bank has also decided to increase the UPI Lite wallet limit to INR 5,000 from INR 2,000 currently.

The RBI said that the National Payments Corporation of India (NPCI) will issue the necessary instructions shortly to facilitate these changes.

🔗 To read the in-depth article, click here: https://lnkd.in/g6DuRZie

Credit - Inc42 Media