You can do more money transactions without internet

The Reserve Bank of India has increased the limit for making payments through UPI Lite without internet from Rs 200 to Rs 500.


There is good news for those using UPI Lite for payments. Because the Reserve Bank of India has increased the limit of making payments through UPI Lite from Rs 200 to Rs 500 without internet. RBI Governor Shaktikanta Das announced the monetary policy by RBI. (UPI Lite)

UPI Lite is an on device wallet facility. It allows users to make real-time payments of small amounts without a UPI PIN. Normally internet is required to make payments through Unified Payments Interface. UPI Lite can carry a maximum balance of up to Rs 2,000. RBI's announcement to increase UPI limit may further encourage digital payments in the country.

The purpose of increasing UPI Lite payment limit by Rs 200 to Rs 500 is to enable citizens to use UPI for small transactions nowadays. After the launch of UPI Lite, there was a demand to increase its transaction limit. Similarly, RBI has increased its limit to Rs.500.

After the MPC meeting, RBI Governor Shaktikanta Das said that technologies like artificial intelligence are being used to improve the digital payment experience. It will help to connect the artificial intelligence system, along with which the customer will get a better experience.

Apart from this RBI has not made any change in repo rate. RBI governor Shaktikanta Das said after the monetary policy committee meeting that there has been no change in the repo rate. This is the second time in a row that banks' repo rate has been kept constant. No change has been made in the repo rate. The interest rate will remain at 6.5 percent. This means that a common citizen will not have to take out a home loan, auto loan or any other type of loan and will not be burdened with additional EMIs. (UPI Lite)

Also Read- Haven't You Downloaded Fake IRCTC App? Recognize that

How to activate Lite feature on Google Pay
-First of all launch Google Pay
-Click on the profile picture on the top left side of the home screen of the app
-Now click on UPI Lite Pay Pin Free and follow the guidelines
-After adding money select a bank account You will be shown an option, which supports UPI Lite
-Upi Lite account will be successfully activated after entering UPI PIN
-Remember you can create only UPI Lite account on Google Pay

Original content is posted on https://gajawaja.in/upi-lite-transaction-limit-increase/ 

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