Answer-The Reserve Bank of India (RBI) has raised the upper limit of an offline payment transaction to ____...

The Reserve Bank of India RBI has raised the upper limit of an offline payment transaction to Rs 500 from the existing Rs 200 to promote the use of UPI-Lite wallet in areas where internet connectivity is weak or unavailable. The total limit for offline transactions on a payment instrument, however, remains Rs 2,000. It also said that offline payments should only be made face-to-face. Moreover, these transactions may be offered without Additional Factor of Authentication AFA.

Question

The Reserve Bank of India (RB

I has raised the upper limit of an offline payment transaction to ________ from the existing Rs 200 to promote the use of UPI-Lite wallet in areas where internet connectivity is weak or unavailable.

A Rs.500

B Rs.550

C Rs.600

D Rs.620

E None of these

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