UPI Lite is an instant payment system. Users can now transact up to ₹1,000 per payment, with a total wallet limit of ₹5,000.
UPI's popularity has led to varied limits across banks, depending on the type of transaction.
Your UPI PIN is required only to deduct money from your account, not to receive money.
NPCI plans to meet with representatives from fintech firms like CRED, Flipkart, Fampay, Amazon etc.
NPCI has granted banks and third-party apps a grace period until December 31 to identify these inactive UPI IDs.