What is UPI Lite
With the help of this UPI Lite, users will be able to make small payments up to Rs.200 without using a PIN. At present only debit from wallet is allowed. All credits to UPI Lite including refunds. They will go directly to your bank account. What is UPI Lite? They are on device wallet facility. Therefore users do not need an internet connection. These features are not amazing.
Who can use UPI Lite
According to NPCI, the UPI Lite feature has been enabled on the BHIM app. Talking about the present, there are eight banks. Which is live with UPI Lite feature. These include HDFC Bank, Canara Bank, Indian Bank, Punjab National Bank, Kotak Mahindra Bank, Union Bank of India, State Bank of India and Utkarsh Small Finance Bank, NPCI Bank.
What will be the benefits of UPI Lite for the users?
According to NPCI, UPI Lite will provide users with a convenient solution for fast and easy low-cost transactions. Now users are not going to have to worry about keeping cash and losing cash. Along with this, users will get great offers and gifts.
Key Points to Remember Expressed Using UPI Lite
UPI Lite transactions, except top-ups, will not show up in your bank account statement or passbook. According to NPCI, customers will receive an SMS daily with the history of UPI Lite transactions done from the bank during the day.