UPI LITE

RBI in association with NPCI launched the UPI LITE service

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At Global Fintech Festival held at Mumbai

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UPI has certainly replaced the requirement of carrying cash and most of the transactions done through UPI are of small amounts

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UPI LITE is an on-device wallet feature that will allow users to make payments of smaller denominations

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Only one bank account can be enabled for UPI LITE

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UPI LITE the upper limit of a transaction shall be Rs. 200/-

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UPI LITE transactions shall not be displayed in bank statements/passbooks

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OTP / PIN Authorization not be required to carry out a transaction with UPI LITE

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