RBI enhances UPI Lite wallet limits, updates offline payments framework

The Reserve Bank of India (RBI) on Wednesday enhanced the per-transaction and wallet limits for transactions made on UPI Lite to Rs 1,000 and Rs 5,000, respectively.

Earlier, the per-transaction limit and wallet limit for transactions made through Unified Payments Interface (UPI) Lite were set at Rs 500 and Rs 2,000, respectively.

The banking regulator updated the framework for facilitating small-value digital payments in offline mode after RBI Governor Shaktikanta Das announced the increase in limits for UPI Lite transactions in October.