RBI hikes offline digital payments limit to Rs 500

Mumbai: The Reserve Bank of India (RBI) on Thursday enhanced the upper limit of an offline payment transaction to Rs500 from the existing Rs200 to promote the use of UPI-Lite wallet in areas where internet connectivity is weak or not available.

However, the total limit for offline transactions on a payment instrument remains Rs2,000 at any point in time. “The upper limit of an offline payment transaction is increased to Rs500,” the RBI said in a circular on ‘Enhancing transaction limits for Small Value Digital Payments in Offline Mode.’