RBI increases limit on UPI Lite offline payments to INR 1,000/transaction
This story was originally published at 20:31 IST on 4 December 2024
Register to read our real-time news.Informist, Wednesday, Dec. 4, 2024
MUMBAI – The Reserve Bank of India has increased the limit on offline payments through UPI Lite to INR 1,000 per transaction with immediate effect, the central bank said in a notification on Wednesday. The total limit on such payments is INR 5,000.
In October, RBI Governor Shaktikanta Das had announced that the central bank had decided to increase the transaction limit from INR 500 per transaction and the overall limit of INR 2,000 to the new limits to widen the scope of usage of the product.
According to data from National Payments Corp. of India, transactions through UPI amounted to INR 23.50 trillion in October. End
Reported by Kshipra Petkar
Edited by Ashish Shirke
For users of real-time market data terminals, Informist news is available exclusively on the NSE Cogencis WorkStation.
Cogencis news is now Informist news. This follows the acquisition of Cogencis Information Services Ltd by NSE Data & Analytics Ltd, a 100% subsidiary of the National Stock Exchange of India Ltd. As a part of the transaction, the news department of Cogencis has been sold to Informist Media Pvt Ltd.
Informist Media Tel +91 (22) 6985-4000
Send comments to feedback@informistmedia.com
© Informist Media Pvt. Ltd. 2024. All rights reserved.
To read more please subscribe
Share this Story:
