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The Reserve Bank of India has increased the limit per transaction through UPI Lite. RBI on Wednesday increased the limit for transactions through 'UPI Lite' from Rs 500 to Rs 1000. The total limit of UPI wallet is Rs 5,000. After this rule, users will be able to do five transactions of Rs 1,000 each. Transactions take place without AFA. Transactions under UPI Lite are offline to such an extent that they do not require AFA.

Apart from this, transaction alerts are also not sent in real time. Offline payments refer to transactions that do not require internet or telecom connectivity in the mobile phone. Apart from this, one does not have to enter the PIN again and again while making payment through wallet. It was said by the Reserve Bank that the increased limit for UPI Lite will be Rs 1,000 per transaction, the total limit of transactions through wallet will be only Rs 5,000.

According to this increased limit, users will be able to withdraw the entire money from their wallet in 5 times. At present, the high limit of one transaction in offline payment is still Rs 500. With this, the total limit for offline transactions at any time is Rs 2,000.

Wallet limit was increased earlier also. The Reserve Bank modified the provisions of the 'offline framework' issued in January 2022 to facilitate small value digital payments in offline transactions.

The central bank had announced to increase the limit of offline payments of UPI Lite in October this year. Record transactions took place in October. Both the number and value of transactions through the UPI platform are increasing year after year. There has been an increase of 38% in transaction volume of UPI and 24% increase in transaction value. In October, UPI had recorded 16.58 billion transactions, while the transaction value was Rs 23.50 trillion. Apart from this, in November also there were 516 million daily transactions through UPI and the average daily amount of transactions was Rs 71,840 crore.

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