Cheer for UPI Lite customers! The Reserve Bank of India (RBI) governor Shaktikanta Das on Friday introduced new measures for UPI Lite customers. The announcement was made as an element of the RBI’s Monetary Policy Statement. According to the brand new measures, customers of UPI Lite can now auto replenish their UPI Lite Wallet utilizing the e-mandate framework.
Making the announcement, Shaktikanta Das stated, “UPI Lite was introduced in September 2022 to enable small value payments in a quick and seamless manner through an on-device wallet.To encourage wider adoption of UPI Lite, it is now proposed to bring it under the e-mandate framework by introducing a facility for customers to automatically replenish their UPI Lite wallets if the balance goes below the threshold limit set by them.” “This will further enhance the ease of making small value digital payments,” he stated.
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