On 4 December 2024, the Reserve Bank of India (RBI) increased the UPI Lite wallet limit from ₹2,000 to ₹5,000 and raised the offline transaction limit from ₹500 to ₹1,000 per transaction. These changes are effective immediately, aiming to enhance convenience and security for digital payments.
Under the new guidelines, UPI Lite allows transactions of up to ₹1,000 per payment, with a total wallet cap of ₹5,000. Previously, the offline framework permitted a maximum of ₹500 per transaction and a wallet limit of ₹2,000. This update aligns with the RBI’s efforts to promote digital transactions and provide a more inclusive payment experience.
The changes are implemented under Sections 18 and 10(2) of the Payment and Settlement Systems Act, 2007. The announcement builds on an earlier update by RBI Governor Shaktikanta Das in October 2024, highlighting the growing significance of UPI in India’s economy.
In October 2024, UPI achieved a record-breaking 16.58 billion financial transactions in a single month, reflecting its pivotal role in revolutionizing India’s payment ecosystem since its launch in 2016 by the National Payments Corporation of India (NPCI).
