RBI Boosts UPI Lite Limits To Encourage Instant Digital Payments

The Reserve Bank of India (RBI) has made a key announcement on UPI Lite. The wallet limit for UPI Lite has been increased from Rs. 2,000 to Rs. 5,000. Also, the per transaction limit has been raised from Rs. 500 to Rs. 1,000. The RBI stated that this increase in limits is aimed at further encouraging instant digital payments. It was made during the MPC meeting in October 2024.