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Detailed explanation-1: -Paytm Payments Bank Becomes the First Payments Bank to Launch UPI LITE – Empowers Instant UPI Payments of Smaller Values. Our associate Paytm Payments Bank Limited (PPBL), has gone live with UPI LITE, a feature enabled by National Payments Corporation of India for multiple small value UPI transactions.

Detailed explanation-2: -UPI Lite was launched in September 2022 by Reserve Bank of India governor Shaktikanta Das to make low-value UPI payments faster and simpler.

Detailed explanation-3: -The Reserve Bank of India had launched UPI LITE in September, 2022 to ease the experience of digital payments in India and promote financial inclusion. The feature allows users to initiate low-value transactions directly from a digital wallet without entering their UPI PIN.

Detailed explanation-4: -Paytm UPI LITE is a secure ‘on-device’ balance that is linked to the user’s bank account. It makes a single entry in the user’s bank account, decluttering bank statements. It is powered by the latest UPI LITE Technology for successful payments, which offers 3-level bank-grade security.