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Delhi Delhi. UPI Lite users can make payments over the amount from November 1 and set up automatic refilling mechanism. National Payments Corporation of India (NPCI) has introduced increased limits and automatic top-up for wallets based on Unified Payments Interface (UPI), aimed at reducing low value transactions through supported apps like GPay, PhonePe, Paytm and BHIM. To streamline digital payments.

Upgraded Wallet Limit

The UPI Lite wallet can now store up to Rs 5,000, whereas earlier the limit was Rs 2,000. All apps supporting UPI Lite can now recharge up to Rs 5,000. However, the daily transaction limit is still Rs 4,000. That being said, NPCI has also increased the PIN-less transaction limit from Rs 500 to Rs 1,000.

New auto top-up feature

Users can now set their UPI Lite wallet to automatically recharge when the balance falls below a preset limit. This works similarly to the automatic top-up functionality in digital wallets. UPI Lite users can set the top-up amount limit as per their choice, but only up to Rs 5,000. The automatic recharge limit is also five per day, so if users need to refill their wallet beyond this limit, they will have to recharge manually.

Announcing the automatic top-up functionality in August, NPCI said, “It will support instant, PIN-less payments of less than Rs 500.”

Headlines

— UPI Lite users can now deposit up to Rs 5,000 to their UPI Lite wallet.

–They can now make payments up to Rs 1,000 without entering the UPI PIN.

— UPI Lite Wallet now supports automatic recharge feature.

— Only five auto top-ups are allowed per day, with a maximum limit of Rs 5,000.

NPCI also announced that it recorded 16.58 billion UPI transactions worth Rs 23.5 trillion in October, registering a growth of 10 per cent in volume and 14 per cent in value compared to September.