FEMA and Banking
- RBI has revised the framework for small value digital payments in offline mode under UPI Lite. Earlier, the framework prescribed an upper limit of Rs. 500 for offline digital payment transaction, and a total limit of Rs. 2,000 for a payment instrument at any point in time. Now, the offline framework has been updated and the enhanced limits for UPI Lite will be Rs. 1,000 per transaction, with Rs. 5,000 being the total limit at any point in time. This circular shall come into effect immediately.
Circular No. RBI/2024-25/93 CO.DPSS.POLC.NO.S908/02-14-003/2024-25 dated 05.12.24
