CURRENT AFFAIRS

Detailed explanation-1: -You can enable UPI LITE for one Account only in the App; 2.2. the upper limit of a UPI LITE Transaction shall be Rs. 200/- and the total limit of UPI LITE Balance shall be Rs. 2000/- at any point in time or such other limits as may be prescribed by NPCI, from time to time.

Detailed explanation-2: -The maximum payment a person can make through UPI is Rs 1 lakh per day as per the guidelines issued by the NPCI.

Detailed explanation-3: -UPI LITE is a new payment solution that leverages the trusted NPCI Common Library (CL) application to process low value transactions that have been set at below ₹ 200. The solution runs off existing UPI ecosystem protocols for mobile phones to ensure commonality, compliance and system acceptance.

Detailed explanation-4: -How Much Money Can You Transfer via UPI, and What is the General Limit? Ideally, the limit on UPI transactions is Rs 1 lakh which can be made in 20 transactions per day. The maximum payment we can make through UPI varies from bank to bank, and the table below mentions it.

Detailed explanation-5: -UPI Lite allows transactions of up to Rs 200 without using a UPI PIN. UPI Lite aims to make low-value UPI payments faster and simpler. UPI Lite is an on-device wallet feature that allows users to make real-time small-value payments of up to Rs 200 without using a UPI PIN.