The Reserve Bank of India, recently has hiked the UPI

Solution

Th e Reserve Bank of India, in order to encourage wider adoption of UPI, in Oct 2024, decided to enhance the limits for the following products of UPI:  

• UPI123Pay: Currently, the per-transaction limit in UPI123Pay is capped at ₹5000. In order to widen the use-cases, the per-transaction limit is enhanced to ₹10,000. UPI123 was launched in March 2022, with a view to enable feature-phone users to use UPI. This facility is now available in 12 languages.  

• UPI Lite: To widen the scope of usage of this product, the UPI Lite wallet limit was increased to ₹5,000 (previously ₹2000 per UPI Lite wallet ) and per-transaction limit to ₹1,000 (from ₹500 per transaction ) with the facility of auto-replenishment.