RBI proposes to increase UPI-Lite limit to Rs 500 per transaction

The Reserve Bank of India (RBI) on August 10 said it proposes to increase UPI-Lite limit to Rs 500 from Rs 200 earlier.

It further said the overall limit is, however, retained at Rs 2,000 to contain the risks associated with relaxation of the two-factor authentication.

Earlier, a limit of Rs 200 per transaction and an overall limit of Rs 2,000 per payment instrument had been prescribed by the central bank for small value digital payments in offline mode, including for National Common Mobility Card (NCMC) and UPI Lite.

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