New Enroll in RBI Grade B New Batch - Starts on May 21

    Question

    What significant change did the RBI introduce for UPI

    Lite transactions in December 2024?
    A Increased the per-transaction limit to ₹2,000 Correct Answer Incorrect Answer
    B Introduced blockchain for transaction verification Correct Answer Incorrect Answer
    C Increased wallet limit to ₹5,000 and per-transaction limit to ₹1,000 Correct Answer Incorrect Answer
    D Added QR code payments for offline transactions Correct Answer Incorrect Answer
    E Launched a cashback program for UPI Lite users Correct Answer Incorrect Answer

    Solution

    Explanation: The RBI enhanced UPI Lite limits to ₹5,000 for wallets and ₹1,000 for transactions to promote small-value digital payments in offline mode.

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