New Delhi: RBI has taken a big step yesterday (August 10) to allow people to use UPI Lite in a big way. RBI has increased the UPI Lite limit from Rs 200 to Rs 500. That is, now you can make a one-time payment of Rs 500 through UPI Lite without entering your PIN.
Let us tell you that in the meeting of the Monetary Policy Committee, RBI Governor Shaktikanta Das said that UPI Lite has been expanded to enhance the digital payment experience. So that everyone can use it, so now it is going to be very convenient.
What is UPI Lite
For information, let us tell you that UPI Lite is a simplified version of UPI payment. It was introduced in 2022 by the National Payments Corporation of India (NPCI) and RBI. Actually, the main objective behind this app is to make small transactions quick and easy. Starting today, with UPI Lite, you can make one-time payments of Rs 500 without entering your PIN. Not only this, you can add a total of Rs 4000 in a day to your UPI Lite wallet.
How to use UPI Lite?
- To use UPI Lite you have to go to any payment app.
- Start any one app from PhonePe, Google Pay, or Paytm.
- Then you need to go to Settings and find the UPI Lite option.
- Now you need to select your bank and activate your account.
- Once your account is activated, you will need to select the UPI Lite option the next time you make a payment
- And have to pay with it.
