New Delhi: The month of November will start from tomorrow. Making online payments will become much easier from the beginning of this month. Actually, in the RBI MPC meeting held in October 2024, some decisions were taken regarding the rules of UPI Lite. Two new rules related to UPI Lite will come into effect from November.

Transaction limit increased

The Reserve Bank of India has increased the UPI Lite transaction limit. Earlier UPI Lite users could only transact up to Rs 500. Apart from this, they can keep a balance of only Rs 2,000 in their wallet. According to RBI rules, the daily expense limit in UPI limit is Rs 4,000.

Now RBI has increased the transaction limit in UPI Lite by Rs 500. This means that a transaction of Rs 1,000 can be done at a time. Apart from this, the UPI Lite wallet balance has been increased from Rs 2,000 to Rs 5,000.

New feature arrived in UPI Lite

Now the hassle of adding balance in UPI Lite is over. Yes, it is expected that the auto-top-up feature will start in UPI Lite from November 1. If the balance in the UPI Lite wallet gets exhausted, then it has to be added again manually.

The National Payments Corporation of India (NPCI) aims to make the payment system easier through the new auto-top-up feature. Information about this feature of UPI Lite was given by NPCI by issuing a notification on 27 August 2024.

How will this feature work

If the UPI Lite balance goes below a certain limit, then automatic balance will be added through this feature. The user will decide the recharge amount and balance limit himself. In this feature, top-up will be possible only five times in a day.

According to the notification of NPCI, to take advantage of this feature of UPI Lite, the user will have to enable this feature on the UPI Lite app by October 31, 2024.