Starting November 1, 2024, UPI Lite users will experience two major updates that make payments easier. The Reserve Bank of India (RBI) has announced an increase in UPI Lite’s transaction and wallet limits, along with an auto top-up feature to simplify the process.
With the new changes, UPI Lite’s single transaction limit will increase from Rs 500 to Rs 1,000. Additionally, users can now keep a balance of up to Rs 5,000 in their UPI Lite wallet, up from the previous limit of Rs 2,000. The daily spending limit for UPI Lite remains capped at Rs 4,000.
The new auto top-up feature, expected to roll out on November 1, 2024, aims to ensure users don’t need to manually recharge their wallet each time it runs low. Once a user’s UPI Lite balance falls below a set minimum, the auto top-up feature will refill the wallet from the user’s linked bank account. This process is automated, allowing for uninterrupted payments without requiring users to manually top-up. Users can set the recharge amount, but it will be limited to five top-ups per day.
UPI Lite, a service provided by the National Payments Corporation of India (NPCI), is designed to facilitate small transactions without needing a UPI PIN, enhancing user convenience for daily spending. The NPCI introduced the auto top-up feature on August 27, 2024, to streamline user experience.
These enhancements are expected to make UPI Lite more user-friendly and convenient, aligning with the RBI’s vision for a more accessible and seamless digital payment ecosystem.
