4pm News Network: Big news has come for those who make UPI payments through Google Pay, PhonePe, Paytm. Starting November 1, 2024, two major changes will be made to UPI Lite, which will benefit users. Starting November 1, users will be able to make more payments than before through UPI Lite. In fact, RBI has increased the UPI Lite transaction limit. At the same time, if the UPI Lite balance is less than a certain limit, the user’s account will be automatically recharged. With this, the payment can be made without any restrictions through UPI Lite.
Let us tell you that all UPI payment platforms including Google Pay, PhonePe and Paytm offer UPI Lite feature. UPI Lite is a digital wallet that provides the freedom to make small transactions without PIN or password. To add money to UPI Lite wallet, users need to recharge manually. After the new rules come into effect from November 1, users’ wallets will be automatically replenished.
- The National Payments Corporation of India (NPCI) launched the UPI Lite feature some time ago.
- Users get a limit to recharge up to Rs 2000 in this wallet.
- Through UPI Lite, users can make small payments without PIN.
