As per the recent announcement by the Reserve Bank of

Solution

The updated per transaction limit for UPI Lite has been increased to ₹1,000. • UPI Lite Per Transaction Limit: The limit has been raised from ₹500 to ₹1,000, making it easier for users to conduct small-value transactions swiftly and efficiently. • UPI Lite Wallet Limit: The total wallet limit for UPI Lite has also increased, going from ₹2,000 to ₹5,000. • Purpose: These enhancements are aimed at promoting the further adoption of UPI by making it more accessible and user-friendly for small, everyday transactions. • UPI 123Pay: In addition, the RBI has raised the per transaction limit for UPI 123Pay from ₹5,000 to ₹10,000, further broadening its usability for feature phone users. • Impact: UPI continues to revolutionize India’s financial landscape, promoting digital payments and financial inclusion, particularly with ongoing innovations like UPI Lite and UPI 123Pay