<ul><li>The Reserve Bank of India (RBI) has announced an increase in transaction limits for UPI123Pay and UPI Lite to boost digital payments in India.</li><li>The per-transaction limit for UPI123Pay has been doubled to Rs 10,000, while the limit for UPI Lite has been raised to Rs 1,000 per transaction and Rs 5,000 overall wallet limit.</li><li>These changes aim to expand the use cases of UPI123Pay and UPI Lite, making digital payments more accessible to feature phone users and facilitating small-value transactions.</li><li>The NPCI will issue instructions for implementation, and the revised limits are expected to go into effect soon, further strengthening India's digital payment infrastructure.</li></ul>

RBI increases transaction limit for UPI123Pay, UPI Lite to further increase UPI adoption

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