The Reserve Bank of India (RBI) has given a big gift to crores of UPI Lite users in the country. UPI Lite users will no longer have to top up their wallets. According to RBI, after the money in the wallet runs out, there will be an automatic transaction from the bank and money will come into the wallet. RBI has introduced a new feature to encourage people to use UPI Lite. Currently, when the wallet runs out of money, money has to be put in the wallet again.
According to RBI, as soon as the money in the UPI Lite wallet runs out, money will be deducted from your UPI account and deposited in the wallet. In such a situation, users will get freedom from the hassle of putting money in the wallet again and again, although you will have full control over it.
After the new update, you will have to do a setting in which you will have to decide when the money should come automatically in the wallet. You will have to set a minimum amount. As soon as the wallet amount reaches the minimum amount set by you, at the same time a transaction will be done from the bank and money will come in the wallet.
For your information, let us tell you that UPI Lite users can transact up to Rs 2,000 in a day. Under UPI Lite, a maximum payment of Rs 500 can be made at a time. UPI Lite has been specially designed for small payments.
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