The new rules for UPI through Google Pay, PhonePe, Paytm have come into effect from November 1. NPCI has increased transaction limits on UPI Lite. In addition, the automatic recharge function of the wallet has been activated. The special thing about UPI Lite is that through it you can make UPI payments even without PIN and password. UPI payment is known as the most preferred payment method among Indian users. Last year, India set a new record for UPI payments.
What is UPI Lite?
You can keep up to Rs 2,000 in your UPI Lite wallet and transact up to Rs 500 at a time. NPCI has launched this service specifically for those who use UPI for small payments. You can deposit funds from your bank account into UPI Lite wallet to make small payments. First, once the UPI Lite wallet balance is used up, it can be recharged manually. NPCI will launch the automatic recharge function from November 1.
Once your UPI Lite account balance gets low, it will be automatically recharged from your bank account. However, the government has put another limit on UPI Lite, where users can recharge their account up to 5 times per day, which means they can only recharge a total of Rs 10,000.
How to enable UPI Lite?
It is very easy to enable UPI Lite in payment apps like Google Pay, PhonePe or Paytm. To do this, you must open these applications and click on the icon of your profile picture. After clicking on the profile picture icon, you will see the PIN Free UPI Lite option below. After that, follow the on-screen instructions on your phone to activate UPI Lite service.
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