RBI increased UPI Lite Wallet limit to Rs 5000

New Delhi: The Reserve Bank of India (RBI) on Wednesday gave good news to those who make payments through mobile phones. The central bank has increased the UPI Lite Wallet limit to Rs 5000 and the per transaction limit to Rs 1000. The move is aimed at further promoting the system of instant payment through mobile phones.

Money transactions through UPI Lite are offline. That is, these transactions do not require additional security proof (AFA) and transaction information is not sent in real time. Till now the maximum limit of offline transactions was Rs 500 and the total offline transaction limit on a payment instrument was Rs 2000.

The RBI on Wednesday amended the offline framework issued in January 2022 to facilitate small amount digital payments in offline mode. An RBI notification said, the increased limit for UPI Lite will be Rs 1,000 per transaction and the total limit will be Rs 5,000. The announcement in this regard was made in October 2023. Offline payments do not require internet for transactions.