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If you use UPI 123Pay and UPI Lite, then this news is of use to you. RBI Governor Shaktikanta Das made new announcements on Wednesday, which will benefit UPI 123Pay and UPI Lite users. According to reports, the Reserve Bank of India has increased the wallet limit of UPI Lite to Rs 5,000. Earlier this limit was Rs 2,000. At the same time, the daily transaction limit has also been increased from Rs 500 to Rs 1,000. Similarly, the Reserve Bank has increased the daily transaction limit for UPI 123 Pay from Rs 5,000 to Rs 10,000. It is worth noting that UPI 123PAY is used by feature phone users. It is a quick payment system through which people can make UPI payments without a smartphone or internet connection. UPI 123 Pay was launched in March 2022. This service is available in 12 Indian languages.

According to the IANS report, Ramakrishnan Ramamurthy, COO of Worldline in India, said that it is necessary to increase the capacity of UPI to deliver financial services to every person. The reach of UPI 123 Pay and UPI Lite has increased and it has also got acceptance. In such a situation, increasing the transaction limit is a positive step. This will help in increasing the value of transactions.

What changed in UPI Lite?
Now people will be able to keep up to 5 thousand rupees in UPI Lite wallet. Earlier this limit was 2 thousand rupees. At the same time, a transaction of 1 thousand rupees can be done daily, which was earlier 500 rupees.

What changed in UPI 123 PAY?
Through UPI 123 Pay, a transaction of 5 thousand rupees could be done daily, which has now been increased to 10 thousand rupees. RBI's announcement will benefit crores of UPI users across the country.