CURRENT AFFAIRS : BANKING & FINANCE
RBI proposes to raise UPI-Lite payments limit to Rs 500 per transaction
- The Reserve Bank of India (RBI) announced to increase the transaction payment limit from Rs. 200 to Rs. 500 for UPI Lite in offline mode to promote digital transactions.
- However, the overall limit of small-value digital transactions is kept unchanged at 2,000 rupees.
- Earlier, a limit of Rs 200 per transaction and an overall limit of Rs 2,000 per payment instrument had been prescribed by the RBI for small value digital payments in offline mode, including for National Common Mobility Card (NCMC) and UPI Lite.
