The Reserve Bank of India (RBI) has increased the limits for UPI Lite transactions, benefiting users, especially in areas with poor internet connectivity. Here’s everything you need to know about the changes and how it impacts your payments.
What is UPI Lite?
UPI Lite allows for instant, low-value offline payments without needing a UPI PIN. It’s designed to make everyday transactions quicker and easier, perfect for small purchases at stores, pharmacies, fuel stations, and more!
What’s Changed?
- Per-Transaction Limit: Raised from ₹500 to ₹1,000.
- Wallet Limit: Increased from ₹2,000 to ₹5,000.
These changes make it easier to make small-value payments without worrying about internet access.
Benefits of UPI Lite
- No Internet? No Problem: Carry out transactions offline.
- Single-Click Payments: Fast, easy, and hassle-free.
- Better Payment Management: Set daily limits and track spending easily.
- No UPI PIN Needed: Great for quick transactions in crowded places.
Why This Matters
These updates make UPI Lite more practical and accessible, especially for people in areas with inconsistent internet access. It promotes financial inclusion by enabling faster, more convenient offline transactions for small-value payments.
How to Create a UPI Lite Account on Google Pay
- Open the Google Pay app and tap on your profile picture.
- Go to the UPI Lite tab.
- Enter the amount you want to add (up to ₹5,000).
- Confirm with your UPI PIN.
- Done!
You can also set up UPI Lite on other apps like Paytm or PhonePe.
The increased limits make UPI Lite an even better option for seamless offline payments. Whether you’re buying groceries or paying for fuel, these updates make digital payments simpler and faster.