🐘 India🇮🇳: The Central Bank increases transaction limits for "UPI 123 Pay" and "UPI Lite" wallets

🐘 India🇮🇳: The Central Bank increases transaction limits for "UPI 123 Pay" and "UPI Lite" wallets

The Reserve Bank of India (RBI) is promoting broader adoption of the Unified Payments Interface (UPI).

➡️ The transaction limit for UPI 123 Pay has been raised from 5,000 to 10,000 rupees (approximately 59.5 to 119 USD). This wallet feature allows offline payments via basic phones using USSD codes and is available in 12 languages.

➡️ For UPI Lite, the limit has been raised from 2,000 to 5,000 rupees (from 23.8 to 59.5 USD). This service facilitates small transactions without the need for PIN authentication.
All designed for the benefit of users.

#news #India

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