© hindustantimes.comRBI increases UPI transaction limit on these transactions, maximum amount is…
, 6 news, 2 views
The Reserve Bank on Wednesday announced the increase of the UPI Lite wallet limit to Rs 5,000 and per-transaction limit to Rs 1,000, in order to encourage wider adoption of the popular instant payment system through mobile phones.
A limit of Rs 500 per transaction and an overall limit of Rs 2,000 per UPI Lite wallet, is presently applicable, with the facility of auto-replenishment.
Unveiling the October bi-monthly monetary policy, Reserve Bank Governor Shaktikanta Das also said the per-transaction limit in UPI123Pay will be enhanced to Rs 10,000 from the current Rs 5,000.
“ To further encourage wider adoption of UPI and make it more inclusive, it has been decided to enhance the per-transaction limit in UPI123Pay from Rs 5,000 to Rs 10,000,
Shaktikanta Das,
RBI enhances limits for UPI123 Pay, UPI Lite to encourage wider…