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Now, pay up to Rs 500 via UPI Lite without PIN; transaction limit up from Rs 200: RBI
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UPI Lite to Rs 500 from Rs 200 on August 10, 2023. While announcing the decisions of Monetary Policy Committee, RBI Governor Shaktikanta Das said, «With the objective of harnessing the new technologies for enhancing digital payments experience for users it is proposed to 1) Enable conversational payments on UPI which will enable the users to engage with Artificial Intelligence powered systems to make payments; 2) Using offline payments in UPI using near field communication technology through UPI Lite on-device wallet; 3) Enhance the transaction limit of small value digital payments in offline mode to Rs 500 from Rs 200 within the overall limit of Rs 2,000 per payment instrument.
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