Key Highlights
- UPI Lite feature is allowed in the BHIM app
- It has a daily transaction limit of Rs. 200
- Users can save up to Rs. 2,000 in the UPI Lite e-wallet
UPI Lite could be your savior if you’re tired of repeatedly entering your UPI pin for insignificant payments. Shaktikanta Das, governor of the Reserve Bank of India, has introduced a new service for citizens named “UPI Lite.” Users can conduct small transactions up to Rs. 200 in a nearly offline mode without using their UPI pin.
An “on-device” wallet can be used to conduct low-value transactions after this feature is enabled on the BHIM App. It might resemble other wallets that are available in the market. A maximum of Rs. 2,000 can be stored in the wallet at any given time.
It is easy to use UPI Lite. You must first create an e-wallet in the BHIM app. This UPI Lite e-wallet is connected to your bank account. Then you send money to your UPI Lite e-wallet from your associated bank account. Contrary to how things operate in the case of standard UPI transactions, this balance is then used to make transactions without the need for a UPI. Here’s a step-by-step guide for configuring UPI Lite in the BHIM app.
How To Set Up UPI Lite In BHIM App?
Step 1: On your Android phone or iPhone, download and install the BHIM app.
Step 2: For UPI transactions, sign in to the app and add your bank account.
Step 3: Next, scroll down and click on the UPI Lite banner.
Step 4: Now, click on the ‘Enable Now’ button.
Step 5: Then tap the ‘Enable Now’ option after reading all the details.
Step 6: Here you will be asked to add Rs. 2,000 to your UPI Lite e-wallet. Enter the amount you want to send.
Step 7: Select the bank account to transfer the amount. Then, click the ‘Enable UPI Lite’ button.
Step 8: Type in your UPI PIN. Your UPI Lite e-wallet will be enabled once the amount has been sent.
As of now, customers of the State Bank of India (SBI), Union Bank of India, Utkarsh Small Finance Bank, Canara Bank, HDFC Bank, Indian Bank, Kotak Mahindra Bank, and Punjab National Bank will only be able to use the UPI Lite payment system.
