Starting November 1, 2024, UPI Lite users will enjoy two major updates that make small transactions easier than ever. Here’s everything you need to know about the upcoming Auto Top-Up feature and increased transaction limits!
1️. UPI Lite Auto Top-Up Feature (Launching November 1, 2024)
- No more manual top-ups: UPI Lite will automatically reload your balance whenever it drops below a set threshold.
- How it works: Set a minimum balance (e.g., ₹50). When your balance falls below that, it will be automatically reloaded from your linked bank account with a preset amount.
- Reload limits: Reloads won’t exceed the ₹2,000 balance cap, and users can set up to five automatic top-ups per day.
2️. Increased UPI Lite Transaction Limits
- Current Limit: Users can make transactions of up to ₹500 per transaction, with a daily wallet cap of ₹2,000.
- New Limit (Rolling Out Soon):
- Per Transaction Limit: Increased from ₹500 to ₹1,000.
- Wallet Balance Cap: Raised from ₹2,000 to ₹5,000.
Quick Recap:
- Auto Top-Up: Set to go live on November 1, 2024, with reloads automatically triggered below a user-set balance threshold.
- Transaction & Wallet Limit Hike: Per transaction limit increased to ₹1,000, and wallet limit raised to ₹5,000 for greater flexibility.
With these updates, UPI Lite aims to bring convenience and inclusivity to millions, making digital payments faster and more accessible for everyday purchases.