In a significant update for UPI users, RBI Governor Shaktikanta Das has announced enhanced transaction limits for UPI, aimed at encouraging wider adoption and inclusivity in digital payments.
Key Changes:
- UPI 123Pay Limit:
The per transaction limit for UPI 123Pay has been increased from ₹5,000 to ₹10,000. This change is expected to facilitate larger transactions via this user-friendly payment method. - UPI Lite Wallet Limit:
The limit for UPI Lite wallets has been raised from ₹2,000 to ₹5,000, allowing users to conduct more substantial transactions with ease.
These enhancements are part of the RBI’s ongoing efforts to transform India’s financial landscape and promote accessible digital payment solutions. With these new limits, users can enjoy greater flexibility in managing their transactions!