RBI Increases Transaction Limits For UPI Lite and UPI 123Pay

The Reserve Bank of India (RBI) has set a limit for UPI 123 Pay transactions at ?5,000 per transaction. UPI 123 Pay is a service that allows users to make digital payments without an internet connection, using feature phones. The transaction limit aims to ensure security and manage risks associated with digital payments. This initiative is part of the RBI’s efforts to promote financial inclusion and expand the reach of digital payments in rural and remote areas. By setting a transaction limit, the RBI seeks to balance convenience with safety, encouraging wider adoption of digital payment solutions7.