The Reserve Bank of India (RBI) has announced a significant increase in UPI Lite and UPI 123PAY transaction limits, aimed at enhancing access to digital payments. The limit per UPI Lite has been increased from Rs 500 to Rs 1,000, while the wallet limit has been increased from Rs 2,000 to Rs 5,000.
In addition, the limit on UPI 123PAY has been doubled from Rs 5,000 to Rs 10,000. Users need to pay for their UPI Lite wallet for PIN-free transactions.
