UPI Lite:
As per the announcement, “A limit of ₹500 per transaction and an overall limit of ₹2,000 per UPI Lite wallet is presently applicable, with the facility of auto-replenishment. To widen the scope of usage of this product, it has now been decided to increase the UPI Lite wallet limit to ₹5,000 and the per-transaction limit to ₹1,000. The framework for facilitating small value payments in offline digital mode, issued by the Reserve Bank, under which UPI Lite has been enabled, will be suitably amended.” It said the framework for offline UPI Lite payment will be amended to enable small digital transactions offline. Further, to widen the reach of the UPI facility to feature phone users, RBI has enhanced the transaction limit for UPI123Pay facility.