From November 1, these big changes have taken place in UPI, online payment users must know the new rules

From November 1, 2024, two major changes are taking place in the UPI platform. Now, UPI Lite users will be able to make more payments. The RBI has also increased the transaction limit.

UPI New Rules: UPI payment is the simplest method. Most people use UPI today. It is a better option for direct bank account payment. Let us tell you that from November 1, two new changes have taken place in UPI. The National Payments Corporation of India (NPCI) has launched the auto top-up feature to make small digital payments easier. Along with this, the transaction limit for UPI Lite has also been increased.

Auto Top-Up Feature

UPI has launched the auto top-up feature. This feature automatically recharges the UPI Lite account when the balance goes below the set limit. Users can set the top-up amount through their UPI app, which has a daily limit of five automatic recharges. According to an NPCI statement, “It will support payments below Rs 500 without a PIN,” which started the auto top-up feature on August 27, 2024.

Increase in Transactions

NPCI recorded 16.58 billion UPI transactions in October 2024, with a total value of Rs 23.5 trillion. This shows a 10% increase in volume and a 14% increase in value compared to September, mainly due to the festival season.

What are the New Guidelines

According to the new guidelines, users can now make transactions up to Rs 1,000 without entering a PIN, which was previously Rs 500. The maximum balance limit in the wallet has also been increased from Rs 2,000 to Rs 5,000. However, there is no change in the daily transaction limit, which remains at Rs 4,000.