The good news for UPI Lite users is that starting on November 1, 2024, two major changes will happen on their UPI Lite platform. The changes mean that from November 1, UPI Lite users will be able to make more payments. The Reserve Bank of India (RBI) has also recently increased the transaction limit of UPI Lite.
The second change is that after November 1, if your UPI Lite balance goes below a specific limit, the new auto top-up feature will add money to UPI Lite again. This will eliminate the need for manual top-up to make payments without stopping with the help of Unified Payments Interface (UPI) Lite. Let’s know in detail.
When Will The New Feature Start
The UPI Lite auto-top-up feature is expected to start on November 1, 2024. UPI Lite is a wallet that allows users to make small transactions without a UPI PIN. Users must manually recharge their wallet balance from their bank account to continue making payments.
However, with the new auto-top-up feature, the National Payments Corporation of India (NPCI) aims to streamline this process, eliminating the need for manual recharge. The UPI Lite auto-pay balance feature was announced in NPCI’s notification dated August 27, 2024.
UPI Lite Wallet Balance Auto Top-Up
Soon, you can set a minimum balance on UPI Lite. Whenever your balance goes below this limit, your UPI Lite wallet will be automatically refilled with a fixed amount from your linked bank account. You will also set the recharge amount. The limit of this wallet cannot exceed Rs 2,000. Up to five top-ups will be allowed per day on the UPI Lite account.
NPCI states UPI Lite users must enable the auto-pay balance facility by October 31, 2024. After this, from November 1, 2024, you can use the auto top-up feature on UPI Lite.
UPI Lite Limit
UPI Lite allows every user to transact up to Rs 500. This allows a maximum balance of Rs 2000 to be kept in the UPI Lite wallet. The daily spending limit of the UPI Lite wallet is Rs 4000. The Reserve Bank of India (RBI) has proposed increasing the maximum transaction limit of UPI Lite from Rs 500 to Rs 1,000. The UPI Lite wallet limit has also been increased from Rs 2,000 to Rs 5,000.
