Reserve Bank of India raises offline payment limits

The cap for transactions increased to $11.81 from $5.90.

The Reserve Bank of India has updated its framework for small-value digital payments conducted offline, raising the transaction and wallet limits for users of UPI Lite.

Under the revised guidelines, the cap for individual offline transactions increased to  $11.81 (₹1,000) from $5.90 (₹500). 

Additionally, the total amount users can hold in their UPI Lite wallets at any time has been raised to $59 (₹5,000) from $23.62 (₹2,000).

$1 = ₹84.68