Wed Oct 09 06:10:08 UTC 2024: ## RBI Boosts UPI Limits, Enhances Digital Payment Convenience
**New Delhi, India:** In a move that will benefit millions of UPI users, the Reserve Bank of India (RBI) on Wednesday announced an increase in transaction limits for both UPI 123Pay and UPI Lite wallets.
The UPI 123Pay service, which facilitates digital payments through non-smartphone devices, will now allow users to transfer up to Rs. 10,000 per transaction, a significant jump from the previous limit of Rs. 5,000.
Similarly, the limit for UPI Lite wallets, which enable payments without the need to enter a PIN every time, has been raised from Rs. 2,000 to Rs. 5,000. These changes are expected to enhance the convenience and accessibility of digital payments for a wider range of users.
RBI Governor Shaktikanta Das revealed these updates during the announcement of the Monetary Policy Committee’s decision. The move is seen as a significant step towards promoting financial inclusion and bolstering the digital payment ecosystem in India.
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