No chiller in the pocket, carry UPI Lite… payment will be done without PIN-password

No chiller in the pocket, carry UPI Lite… payment will be done without PIN-password

Do you also carry money in your pocket in cash? Have to carry a chiller for small expenses? If so, then you will easily get rid of these hassles. And will get rid of UPI Lite. It also works like UPI like Paytm, Google Pay, or Phone Pay on your phone. The specialty of Bus UPI Lite will be that you will not need to enter the UPI PIN for even the smallest expenditure. If there is a small cost, then just open the app and make the payment. Think about how much help it is going to help you.

Reserve Bank of India Governor Shaktikanta Das launched UPI Lite on 20 September 2022. This is an e-wallet feature in which small amounts up to Rs 200 can be paid without entering a PIN. Money is deducted from the wallet on spending through UPI, but if the money is to be deposited in it, then it is directly deposited in the account. So let's know about the features of UPI Lite.

What is UPI Lite
UPI Lite is an on-device wallet. Customers will have to add money to this wallet from their bank account. Money will be added to the app of UPI Lite. Internet will not be required for real-time payment to run the UPI Lite app.

How much will the payment of Rs be?
UPI Lite is made for small expenses. Its maximum limit is 200 rupees. According to NPCI, if the user makes a payment up to Rs 200, then he will not have to enter the PIN on the UPI Lite app. You can deposit up to a maximum of Rs 2000 in the UPI Lite app. You can do transactions as many times a day as you want.

who can use
At present 8 banks are providing the facility of UPI Lite. These banks include Canara Bank, HDFC Bank, Indian Bank, Kotak Mahindra Bank, Punjab National Bank, State Bank of India, Union Bank of India, and Utkarsh Small Finance Bank. Customers of these banks can use UPI Lite.

will be used without internet
Internet will not be required to make payment with UPI Lite. With this, transactions can be done in offline mode. Debit payment will be offline while the internet will be required for credit in the account. However, the preparation of NPCI is to make both debit and credit offline later.

How to Add Funds in UPI Lite
Remember that you will be able to add funds on UPI Lite Wallet only in online mode (ie, an internet connection will be required) with Additional Factor Authentication (AFA) or by using UPI Autopay, which is registered by the user in online mode. According to the NPCI website, if you disable UPI Lite, the unutilized balance will be credited to your bank account.

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