The Reserve Bank of India (RBI) on December 04, 2024, issued a notification regarding the amendment to Framework for Facilitating Small Value Digital Payments in Offline Mode.
The following has been stated: -
•The RBI has updated the framework for small value offline digital payments, increasing the limits for UPI Lite. The new limits allow transactions of up to ₹1,000 per transaction, with a total limit of ₹5,000 for a payment instrument at any time.
•This amendment follows the RBI’s announcement in the October 2024 Statement on Developmental and Regulatory Policies. The updated framework is effective immediately.
[Notification No. RBI/2024-25/93 CO.DPSS.POLC.No.S908/02-14-003/2024-25]
