UPI transaction limit increased: The National Payment Corporation of India (NPCI) has increased the limit of transaction per transaction in UPI lights. Now customers will be able to do only a maximum transaction of Rs 1000 at a time. Earlier this limit was 500 rupees. With this, the limit of keeping money in the wallet has been increased from two thousand to five thousand rupees. According to NPCI circular, these new boundaries have come into force with immediate effect.
Recently, NPCI has announced new boundaries for UPI lights through its latest circular. This decision has been taken as per the announcement of the Reserve Bank of India (RBI) last year. Through this, efforts are being made to make small value transactions easier. The NPCI has instructed all banks to make necessary changes immediately to implement these new borders.
The amount will automatically be deposited in the bank account
Earlier, the National Payments Corporation has directed the payment service provider banks and app companies to start the facility of sending the remaining amount of UPI Light Wallet to the bank account. This facility will start by 31 March. At present, users using UPI lights can put money in their wallet, but there is no option to withdraw it.
Auto top-up facility is also applicable
Along with this, auto top-up facility has also been implemented. That is, if the balance is reduced, the amount will be deducted from the bank account automatically and the UPI light will be added to the wallet. For this, customers will have to activate this facility. Click on your profile in the consumer app. There you will get the option of UPI light, click on it. After that the option of ad money will come, in which fill your bank after filling the amount and then add the pin and add the money. Customers can also set auto top-up limit. You can keep up to Rs 5000 in UPI light wallet.
There is no need to enter PIN in these cases
According to the new NPCI circular, UPI light users will not need to enter PIN number for payment of less than Rs 500. Apart from this, NPCI has asked banks to identify the UPI light account in which no transactions have been done in the last six months. The balance bank in these accounts will be sent back to the bank account.
