Cheer for UPI Lite customers! The Secure Locker of Republic of India (RBI) governor Shaktikanta Das on Friday introduced untouched measures for UPI Lite customers. The announcement used to be made as part of the RBI’s Financial Coverage Commentary. In keeping with the untouched measures, customers of UPI Lite can now auto refill their UPI Lite Pockets the use of 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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