RBI increases UPI Lite transaction limit: How will you benefit?
3 months, 3 weeks ago

RBI increases UPI Lite transaction limit: How will you benefit?

India Today  

The Reserve Bank of India has raised the transaction limit for UPI Lite to Rs 1,000 per transaction and the wallet limit to Rs 5,000, compared to the earlier limits of Rs 500 and Rs 2,000, respectively. The UPI Lite framework, first introduced in January 2022 and updated in August 2023, was created to simplify small-value digital payments. Convenience for Small Payments: A Rs 1,000 transaction limit on UPI Lite enables users to handle frequent, low-value expenses without frequent wallet recharges. Dilip Modi, Founder & CEO of Spice Money said that this initiative further strengthens the foundation for a robust and secure digital payments framework by expanding the reach of UPI to new user segments and also encourages small-scale merchants and consumers to adopt digital payment methods, reducing dependency on cash transactions.

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History of this topic

NPCI introduces UPI Lite's 'Transfer Out' feature. All details here
1 month ago

NPCI introduces UPI Lite's 'Transfer Out' feature. All details here

India Today  

The National Payments Corporation of India has come up with a new feature ‘Transfer Out’ for UPI Lite. It allows users to withdraw funds from their UPI LITE balance to the source bank account from which it was loaded, without disabling UPI LITE,” mentioned the circular. With this new feature, users can transfer money from their UPI Lite balance back …

UPI Lite’s THIS feature to come into force from April 1; check details here
1 month, 1 week ago

UPI Lite’s THIS feature to come into force from April 1; check details here

Live Mint  

National Payments Corporation of India has rolled out a new rule with regards to UPI Lite which will come into force from April 1, 2025. This is a new feature which will enable users to withdraw funds from their UPI Lite balance to the source bank account from which it was loaded without disabling UPI Lite. UPI LITE is a …

UPI hits record with ₹16.73 billion in transactions in December 2024
Trending News
2 months, 4 weeks ago

UPI hits record with ₹16.73 billion in transactions in December 2024

Live Mint  

Unified Payments Interface transactions hit a record 16.73 billion in December 2024, shows data released by the National Payments Corporation of India. NPCI also reported that the total value of transactions in December amounted to ₹23.25 lakh crore, which is significantly up from ₹21.55 lakh crore in November. NPCI data NPCI extends deadline for compliance with UPI volume cap On …

RBI introduces new regulations for UPI apps starting January 1, Google Pay and PhonePe rejoice
3 months ago

RBI introduces new regulations for UPI apps starting January 1, Google Pay and PhonePe rejoice

India TV News  

Starting January 1, 2025, significant changes are coming for those making UPI payments. A deadline was set for December 31, 2024, and if this deadline isn't extended, starting January 1, users will be able to make payments of up to Rs 10,000 per day through UPI123Pay, up from the previous limit of Rs 5,000. However, the transaction limit for smartphone …

From new limits to new features: All changes made in UPI in 2024
3 months, 2 weeks ago

From new limits to new features: All changes made in UPI in 2024

India TV News  

The number of people making online payments through UPI is growing rapidly, doubling during the day and quadrupling at night. According to NPCI data released in November, there were approximately 15.48 million UPI transactions, amounting to an impressive Rs 21.55 lakh crore. Previously capped at Rs 5,000, the new daily limit is now Rs 10,000, allowing these users to conduct …

UPI achieves record 15,000 crore transactions worth ₹223 Lakh Crore by Nov 2024
3 months, 2 weeks ago

UPI achieves record 15,000 crore transactions worth ₹223 Lakh Crore by Nov 2024

Hindustan Times  

The Finance Ministry said on Saturday that from January to November of this year, 15,547 crore transactions of ₹223 lakh crore were handled through the Unified Payments Interface. From January to November of this year, 15,547 crore transactions of ₹ 223 lakh crore were made over the Unified Payments Interface, "demonstrating its transformative impact on financial transactions" in India.) The …

Reserve Bank of India raises UPI Lite wallet limit from ₹2,000 to ₹5,000
Trending News
3 months, 4 weeks ago

Reserve Bank of India raises UPI Lite wallet limit from ₹2,000 to ₹5,000

Op India  

The Reserve Bank of India on Wednesday revised the wallet limit for the UPI Lite from Rs 2,000 to Rs 5,000. As per the new rules introduced today, the upper transaction limit for UPI Lite under offline framework has been increased from Rs 500 to Rs 1,000 per transaction. “The offline framework has been updated and the enhanced limits for …

RBI increases UPI Lite wallet limit to ₹5,000, transaction cap to ₹1,000
3 months, 4 weeks ago

RBI increases UPI Lite wallet limit to ₹5,000, transaction cap to ₹1,000

Hindustan Times  

The Reserve Bank of India on Wednesday increased the UPI Lite wallet limit to ₹5,000 and per-transaction limit to ₹1,000. ".the enhanced limits for UPI Lite shall be ₹1,000 per transaction, with ₹5,000 being the total limit at any point in time," said a Reserve Bank circular, PTI reported. 5000 in their UPI Lite wallet at any given time. UPI …

RBI revises wallet limit for UPI Lite from Rs 2,000 to Rs 5,000: Check new guidelines
3 months, 4 weeks ago

RBI revises wallet limit for UPI Lite from Rs 2,000 to Rs 5,000: Check new guidelines

India TV News  

In a significant development, the Reserve Bank of India on Wednesday revised the wallet limit for the UPI Lite from Rs 2,000 to Rs 5,000. According to the new rules introduced, the upper transaction limit for UPI Lite under offline framework has been increased from Rs 500 to Rs 1,000 per transaction. Check new guidelines As per the new regulations, …

UPI 123 Pay: Key changes to come into effect before January 1
4 months, 1 week ago

UPI 123 Pay: Key changes to come into effect before January 1

Live Mint  

The Reserve Bank of India had extended the transaction limit from ₹5,000 to ₹10,000 for UPI 123Pay on October 9. Those who are unaware, UPI 123PAY enables digital payments on feature phones to access UPI services without internet connection. The members will collectively identify and tag UPI 123Pay transactions as per the rules given below: A.) C.) Initiation channel On …

Now, you will be able to transfer ₹5 lakh in a single UPI transaction under THIS category: Check details
6 months, 3 weeks ago

Now, you will be able to transfer ₹5 lakh in a single UPI transaction under THIS category: Check details

Live Mint  

NPCI revised the limit to ₹ 5 lakh for payments of tax, hospitals & educational services and payment for IPO and G-Secs If you rely on the Unified Payments Interface for most of your payments, then there is good news for you. {{^adFree}} {{/adFree}} So, now consumers will be able to make UPI payments of ₹5 lakh per transaction for …

Rs 81 lakh crore worth transactions processed by UPI in April-July | DETAILS
7 months ago

Rs 81 lakh crore worth transactions processed by UPI in April-July | DETAILS

India TV News  

India's Unified Payments Interface processed nearly ₹ 81 lakh crore transactions in the April-July period this year, which is a staggering 37 per cent increase and surpassing all world's leading digital payments platforms. According to latest data by global payments hub Paysecure, UPI processed 3,729.1 transactions per second — a 58 per cent surge over the 2,348 transactions every second …

RBI Introduces Delegated Payment Through UPI, Cheque Clearing Time Reduced
7 months, 3 weeks ago

RBI Introduces Delegated Payment Through UPI, Cheque Clearing Time Reduced

Deccan Chronicle  

Mumbai: The Reserve Bank of India on Thursday proposed to introduce Delegated Payments’ in UPI. Delegated Payments would allow an individual to set a UPI transaction limit for another individual on the primary user’s bank account. In another major announcement, the RBI also enhanced the limit for tax payments through UPI from ₹1 lakh to ₹5 lakh per transaction. At …

RBI enhances UPI tax payment limit to ₹5 lakh per transaction
7 months, 3 weeks ago

RBI enhances UPI tax payment limit to ₹5 lakh per transaction

The Hindu  

The Reserve Bank of India has decided to enhance the limit for tax payments via UPI from ₹1 lakh to ₹5 lakh per transaction, Governor Shaktikanta Das announced on Thursday. “As direct and indirect tax payments are common, regular and high value, it has been decided to enhance the limit for tax payments through UPI from ₹1 lakh to ₹5 …

Now you can autofill your UPI Lite Wallet balance: What is it, how it works
9 months, 3 weeks ago

Now you can autofill your UPI Lite Wallet balance: What is it, how it works

Hindustan Times  

UPI Lite changes: The Reserve Bank of India announced that UPI Lite will now be integrated with the e-mandate framework. RBI Governor said during the MPC meeting, “The UPI Lite facility currently allows a customer to load his UPI Lite wallet upto ₹2000 and make payments upto ₹500 from the wallet. In order to enable the customers to use the …

Paytm UPI Lite Wallet: No PIN required, transaction limit and how to use. Details here
10 months, 2 weeks ago

Paytm UPI Lite Wallet: No PIN required, transaction limit and how to use. Details here

Hindustan Times  

Paytm UPI Lite Wallet can be used for making fast and easy transactions without the need for a PIN. It offers lightning-fast payments that never fail with no pin requirement.” Paytm UPI Lite Wallet: Using Paytm UPI Lite Wallet users can make instant transactions of up to ₹ 500 each. Using Paytm UPI Lite Wallet users can make instant transactions …

UPI increases convenience but leading to another problem: Here's what experts have to say
10 months, 3 weeks ago

UPI increases convenience but leading to another problem: Here's what experts have to say

India TV News  

As more and more people in India embrace digital and cashless payments, they are using the Unified Payments Interface to purchase not only daily essentials but also expensive home appliances, high-end gadgets, and designer clothing. However, experts warn that the seamless and quick digital transaction process via UPI may lead people to overspend on items they may not need. According …

‘Majority of people will stop using UPI if…’, survey reveals
1 year ago

‘Majority of people will stop using UPI if…’, survey reveals

Live Mint  

A survey has revealed that a majority of the citizens will stop using the Unified Payments Interface if a transaction fee is levied on it. 73% of those surveyed indicated that they will stop using UPI if a transaction fee is introduced while 23% of the respondents said that they are willing to bear a transaction fee on payment. "37% …

Raise UPI transfer limit to ₹5 lakh by Jan 10, NPCI tells members: Report
1 year, 2 months ago

Raise UPI transfer limit to ₹5 lakh by Jan 10, NPCI tells members: Report

Live Mint  

The National Payments Corporation of India has directed members to comply by January 10 with the banking regulator’s decision to raise the UPI transaction limit to ₹5 lakh for hospitals and educational services, reported Business Standard. To ensure compliance, the NPCI has instructed banks, payment service providers, and UPI applications to increase transaction limits for the specified merchant categories. PhonePe …

5 new ways to use UPI payments as 2024 begins with these rule changes
1 year, 3 months ago

5 new ways to use UPI payments as 2024 begins with these rule changes

Hindustan Times  

As we enter the new year, it's essential to take note of the UPI rules that have been changed. National Payments Corporation of India have instructed payment apps to deactivate inactive UPI IDs after one year. Users of platforms like Google Pay and PhonePe must verify and ensure their UPI IDs remain active, also reviewing associated phone numbers for inactivity. …

India’s Growth Story is Linked to Progress Made on Digitisation and Its Access
1 year, 3 months ago

India’s Growth Story is Linked to Progress Made on Digitisation and Its Access

The Quint  

The committee on Deepening Digital Payments constituted by the RBI in 2019 under the chairmanship of Nandan Nilekani had recommended that market forces should drive transaction prices for the inclusion of small startups and incentivising innovation. It underlined that while banks have a role in contributing to the payment system, the government and the RBI should also share the cost …

RBI raises UPI transaction limits, e-mandate bar; check all announcements
1 year, 3 months ago

RBI raises UPI transaction limits, e-mandate bar; check all announcements

Hindustan Times  

Reserve Bank of India Governor Shaktikanata Das on Friday announced several decisions on the Unified Payments Interface, including raising the Unified Payments Interface payment limit to hospitals and educational institutions to ₹5 lakh from ₹1 lakh. The UPI, India's mobile-based fast payment system, enables users to make instantaneous, round-the-clock payments via Virtual Payment Address UPI limits increased: While unveiling the …

UPI Payment Limit to Hospitals Educational Institutes Raised to Rs 5 Lakh RBI
1 year, 3 months ago

UPI Payment Limit to Hospitals Educational Institutes Raised to Rs 5 Lakh RBI

Deccan Chronicle  

Mumbai: To encourage the use of UPI for medical and educational services, the Reserve Bank on Friday proposed to enhance the limit for payments to hospitals and educational institutions from Rs one lakh to Rs 5 lakh per transaction. Due to the ease of payments offered by it, UPI is emerging as a preferred mode of payment for not only …

RBI Raises UPI Payment Limit For Healthcare, Educational Services To Rs 5 Lakh
1 year, 3 months ago

RBI Raises UPI Payment Limit For Healthcare, Educational Services To Rs 5 Lakh

ABP News  

The Reserve Bank of India announced on Friday that it is increasing the UPI payment limit to Rs 5 lakh for payments made to hospitals and educational institutions. Currently, the UPI payments are capped at Rs 1 lakh and the revised limit applies only for healthcare and educational facilities. It is now proposed to enhance the UPI transaction limit for …

RBI hikes UPI transaction limit for hospitals and educational institutions
1 year, 3 months ago

RBI hikes UPI transaction limit for hospitals and educational institutions

The Hindu  

The Reserve Bank of India raised the Unified Payments Interface payment limits for hospitals and educational institutions from ₹1 lakh to ₹5 lakh per transaction. “The enhanced limit will help consumers make UPI payments of higher amounts for education and healthcare purposes,” he said. It is now proposed to enhance this limit to ₹1 lakh per transaction for recurring payments …

UPI crosses 10 bn transactions second time in September
1 year, 6 months ago

UPI crosses 10 bn transactions second time in September

Deccan Chronicle  

Chennai: With Unified Payments Interface crossing 10 billion transactions for the second straight month, this seems to have become the new normal for the payment interface. UPI recorded 10.56 billion transactions worth Rs 15.8 lakh crore in September, according to the National Payments Corporation of India. While the transaction volume marginally increased from Rs 15.76 lakh crore in August to …

What is UPI Lite X? How it works? EXPLAINED
1 year, 6 months ago

What is UPI Lite X? How it works? EXPLAINED

India TV News  

What is UPI Lite X? EXPLAINED With its ability to facilitate offline transactions, UPI Lite X addresses a critical need for seamless payments in areas with limited connectivity. The UPI Lite X feature allows users to initiate and complete transactions while in areas lacking connectivity, such as underground stations and remote regions. Accessibility and Compatibility Accessible to anyone with a …

RBI Governor Das highlights UPI advancements: AI integration, enhanced transaction limit and UPI Lite
1 year, 7 months ago

RBI Governor Das highlights UPI advancements: AI integration, enhanced transaction limit and UPI Lite

India TV News  

RBI Governor Shaktikanta Das has announced several enhancements to the Unified Payments Interface aimed at improving ease of payments. These include the introduction of conversational AI for payments, the ability to conduct transactions using UPI in non-Internet environments through UPI Lite, and an increase in the transaction limit for small-ticket expenses from Rs 200 to Rs 500. Unlike the regular …

Data | UPI payments: relief for users, a headache for banks
1 year, 9 months ago

Data | UPI payments: relief for users, a headache for banks

The Hindu  

The dizzying array of daily limits on United Payments Interface transactions set by apps and banks — both in terms of value and volume — has put the spotlight on the rapid rise in such transactions in India in recent years. Such limits were introduced given the surge in the volume of UPI transactions in India in recent years after …

Explained | Daily limit on UPI transactions
1 year, 9 months ago

Explained | Daily limit on UPI transactions

The Hindu  

The story so far: As transactions facilitated by the Unified Payments Interface breach record highs, banks have opted for daily limits. As for apps, among others, Google Pay users breach the daily limit if they try to send money more than ten times in a single day across all UPI apps. The NPCI has also increased the value limit in …

What's Changing With UPI Merchant Transactions from April 1? EXPLAINED
2 years ago

What's Changing With UPI Merchant Transactions from April 1? EXPLAINED

News 18  

National Payments Corporation of India on Wednesday said there is no charge for the bank account to bank account-based UPI payments or normal UPI payments. NPCI has permitted the PPI wallets to be part of interoperable UPI ecosystem and levied 1.1 per cent charge on unified payment interface transactions above Rs 2,000 while using PPI. “The interchange charges introduced are …

UPI payments of up to ₹200 can now be done without pin — Paytm makes it possible
2 years ago

UPI payments of up to ₹200 can now be done without pin — Paytm makes it possible

Hindustan Times  

India’s fintech and QR payments pioneer Paytm’s latest innovation Paytm UPI LITE offers a convenient solution for those who want to make quick and easy payments. One of the most impressive features of Paytm UPI LITE is the ability to make payments of up to ₹200 in a single click, without the need for the usual 4-6 digit UPI PIN. …

UPI transactions surpass 36 crore in a year, says RBI governor
2 years ago

UPI transactions surpass 36 crore in a year, says RBI governor

India TV News  

UPI transactions surpass 36 crore in a year, says RBI governor The Reserve Bank of India's Governor, Shaktikanta Das, announced at the launch of the Digital Payments Awareness Week that UPI transactions have increased by 50% YoY, with over 36 crore transactions in February 2023 The Reserve Bank of India Governor, Shaktikanta Das, announced on Monday that payments made through …

Paytm Payments Bank Enables UPI LITE For Faster Small-Value Transactions
2 years ago

Paytm Payments Bank Enables UPI LITE For Faster Small-Value Transactions

ABP News  

Paytm Payments Bank Limited, a part of mobile payment company Paytm has enabled the UPI LITE feature for its users for faster UPI payments for multiple small-value UPI transactions. Paytm in a blog post on Thursday said, "Our associate Paytm Payments Bank Limited, has gone live with UPI LITE, empowering its users with lightning-fast UPI payments that never fail. With …

Daily UPI transactions crossed 36 crore in one year: RBI Governor
2 years ago

Daily UPI transactions crossed 36 crore in one year: RBI Governor

Hindustan Times  

Reserve Bank of India governor Shaktikanta Das on Monday said payments through UPI have grown exponentially in the past 12 months with daily transactions crossing 36 crore, which is up 50 per cent from 24 crore in February 2022. Reserve Bank of India Governor Shaktikanta Das In value terms, these transactions are worth ₹6.27 lakh crore, registering a growth of …

Paytm's UPI Lite will now let users make payments without using PIN
2 years, 1 month ago

Paytm's UPI Lite will now let users make payments without using PIN

India Today  

Paytm, the popular payments app, has introduced a new feature called UPI Lite that makes it easier for users to make small value transactions without needing to enter a PIN every time. Talking about the new feature, Praveena Rai, COO, NPCI, said, “We are very excited to launch UPI LITE on Paytm Payments Bank. With UPI Lite, users can carry …

Paytm, PhonePe to introduce UPI Lite soon for smaller e-payments
2 years, 1 month ago

Paytm, PhonePe to introduce UPI Lite soon for smaller e-payments

India TV News  

Paytm, PhonePe to introduce UPI Lite soon for smaller e-payments The National Payments Corporation of India released UPI Lite to simplify small ticket transactions up to Rs. Now, UPI Lite will be made available on Paytm and PhonePe's applications soon. The National Payments Corporation of India launched UPI Lite last year to simplify low-ticket transactions up to Rs. To speed …

Explained | India’s UPI push
2 years, 2 months ago

Explained | India’s UPI push

The Hindu  

The story so far: On January 10, the National Payments Corporation of India paved the way for international numbers to be able to transact using UPI. Addressing theinfrastructural and technological changes required to support such payments, he said, “Currently, all the internal systems as well as ecosystem players such as banks, NPCI, etc only understand India-based mobile numbers for UPI …

UPI payments now made easier with UPI lite; Here’s how to use
2 years, 5 months ago

UPI payments now made easier with UPI lite; Here’s how to use

Live Mint  

On September 20, 2022, Reserve Bank of India Governor Shaktikanta Das introduced UPI Lite, a faster and easier way to conduct low-value UPI payments. You must be aware of UPI payments since they have become an important part of our lives; however, with the advent of UPI lite, things may get a bit easier. The UPI App will immediately advise …

RuPay introduces UPI payments through its credit cards. Details here
2 years, 6 months ago

RuPay introduces UPI payments through its credit cards. Details here

Hindustan Times  

The National Payments Corporation of India has announced a feature enabling linkage of RuPay credit card to the unified payments interface. By linking RuPay credit card on UPI, now the customers can benefit from increased opportunity to use their credit cards while the merchants will benefit from the increase in consumption by being a part of the credit ecosystem with …

Rise in Spending Through Credit Cards, Debit Cards, UPI Indicates Pick-Up In Consumption: FinMin
2 years, 9 months ago

Rise in Spending Through Credit Cards, Debit Cards, UPI Indicates Pick-Up In Consumption: FinMin

News 18  

Spending through credit cards and debit cards in April jumps 77.8 per cent and 12.5 per cent to Rs 1.05 lakh crore and 3.49 lakh crore, respectively. “Value of UPI transactions processed through the National Payment Corporation of India stood at Rs 10.4 lakh crore during May 2022, the highest since UPI was launched in 2016, registering month-on-month growth of …

SBI, HDFC, ICICI Bank and Others: Using UPI? Know How Much Money You Can Send in a Day
2 years, 9 months ago

SBI, HDFC, ICICI Bank and Others: Using UPI? Know How Much Money You Can Send in a Day

News 18  

UPI Transactions: UPI or Unified Payments Interface has become one of the most popular transaction methods in India since its launch. See them here: – State Bank of India: The largest lender of India, State Bank of India or SBI UPI transaction limit is set at Rs 1 lakh per user, while the daily UPI limit is also set at …

RBI to soon float paper on reasonableness of charges on transactions via digital payments
3 years, 3 months ago

RBI to soon float paper on reasonableness of charges on transactions via digital payments

India TV News  

With a view to make digital transactions more affordable, the Reserve Bank of India will soon come out with a discussion paper on the reasonableness of charges on transactions through digital mode. Observing that concerted efforts by all stakeholders have led to a significant increase in digital payments in recent years, RBI Governor Shaktikanta Das said there have, however, been …

RBI should keep watch of India’s cashless tryst
4 years, 4 months ago

RBI should keep watch of India’s cashless tryst

Live Mint  

Cash is not obsolete. After a long phase of beta testing, WhatsApp’s payment feature was given a go-ahead last week by the National Payments Corp of India. The Facebook-owned chat platform must keep users of its new service under 20 million for now, though it has an overall domestic user base of some 400 million, many of them riveted to …

How UPI is giving e-payments a run for their money
5 years, 10 months ago

How UPI is giving e-payments a run for their money

Live Mint  

Mint looks at the digital platform that’s outpacing others in its reach and acceptance. Companies such as Paytm, PhonePe, MobiKwik and GooglePay, along with 144 banks, also offer payments via UPI, which surpassed mobile wallet payments in terms of volume of transactions as well as value. There were 384.89 million mobile wallet transactions worth ₹15,990 crore in March, compared to …

Demonetisation: RBI takes special steps, increases mobile wallet limit to Rs 20,000 per month
8 years, 4 months ago

Demonetisation: RBI takes special steps, increases mobile wallet limit to Rs 20,000 per month

Firstpost  

Users can load up to Rs 20,000 into digital wallets, and merchants can transfer Rs 50,000 worth of funds into bank accounts every month. After this, the transfer limit to banks from PPI has been increased to Rs 50,000 per month, with no limit on the amount that can be transferred in a single transaction. Govind Rajan, CEO of Freecharge, …

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