UPI Lite and UPI 123 Payment Limit Increased
The Reserve Bank of India has decided to raise the payment limit for UPI Lite and UPI 123 users to encourage wider adoption of the Unified Payment Interface (UPI).
New Delhi: The Reserve Bank of India has decided to raise the payment limit for UPI Lite and UPI 123 users to encourage wider adoption of the Unified Payment Interface (UPI).
This announcement was made by Reserve Bank Governor Shaktikanta Das following a three-day meeting of the Monetary Policy Committee on Thursday. He stated that UPI 123, launched in March 2022, aims to enable feature phone users to utilize UPI.
This feature is now available in 12 languages. Currently, the transaction limit for UPI 123 payments is capped at ₹5,000. To expand use cases, the decision has been made to increase the per-transaction limit to ₹10,000 after consultations with stakeholders
. The National Payments Corporation of India (NPCI) will soon issue the necessary guidelines.
Das also mentioned that the current transaction limit for UPI Lite is ₹500, with a total limit of ₹2,000 for UPI Lite wallets, including the auto-replenishment feature. To broaden the scope of this product’s usage, the limit for UPI Lite wallets will now be increased to ₹5,000, and the per-transaction limit will be raised to ₹1,000. Amendments will be made to the framework issued by the Reserve Bank to facilitate small-value payments in an offline digital mode, under which UPI Lite has been enabled.
