RBI Increases UPI Lite Limits
The Reserve Bank of India (RBI) has increased the UPI Lite wallet limit from ₹2,000 to ₹5,000 and raised the offline transaction limit from ₹500 to ₹1,000 to promote digital transactions. These changes, implemented under the Payment and Settlement Systems Act, 2007, aim to improve user convenience and enhance India’s digital payment ecosystem. UPI Lite supports quick, PIN-free small transactions, and these enhancements align with RBI’s broader digital economy strategy. UPI continues to record significant growth, achieving 16.58 billion transactions in October 2024, reflecting its integral role in the Indian economy.
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