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- The Reserve Bank of India (RBI) has proposed to increase the per transaction limit for UPI Lite in offline mode from Rs 200 to Rs 500.
- With this, users will be able to make payments up to Rs.500 easily.
- The limit for low value digital payments in offline mode including National Common Mobility Card (NCMC) and UPI Lite is Rs.2000.
- The Reserve Bank of India is the central bank of India. It is the operator of all the banks in India. The Reserve Bank controls the economy of India.
- It was established on 1 April 1935 according to the Reserve Bank of India Act 1934.
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