The rules of UPI Lite are going to change from April 1, 2025, after which users will now be able to transfer money directly from their UPI wallet to their bank account.
If you also use UPI Lite, then know that the rules of UPI are going to change from April 1, 2025, now you will be able to withdraw money from UPI Lite and transfer the money deposited in your UPI wallet to your bank account. Let us tell you that earlier customers had to deactivate their account to withdraw money from UPI Lite, after which the amount deposited in the customers’ account was transferred to the bank account, but now after this rule, customers can transfer their remaining money directly to their bank account without deactivating their account.
Announced on 21 February 2025
The change in the rules of UPI Lite was announced by the National Payments Corporation of India (NPCI) on 21 February 2025, under which banks and apps running UPI Lite were ordered to be linked with the transfer out option by 31 March 2025, now this facility will be available to users from 1 April and they will be able to directly transfer the remaining money in their UPI Lite to their bank account.
What is UPI Lite?
UPI Lite is a facility used for small transactions in which users do not need to enter the account PIN and customers can easily deposit up to ₹ 5000 in their UPI wallet, apart from this, a one-time transaction of up to ₹ 1000 can be done easily. It is an online wallet app in which you can transact money without entering a PIN, in which a limit is set, currently this facility is being provided in Google Pay, Phone Pay and Bhim App. It is mainly used for small transactions.
Currently, users can only deposit money in the wallet
In UPI Lite, currently users can only transfer money to their UPI wallet through their bank account but they cannot withdraw the money from their UPI wallet, to withdraw it they have to deactivate their account, after which the amount automatically goes to the bank account, but now after this facility, customers can transfer money directly to their bank account.
This facility has been created to do small transactions in which internet is not required, while it is operated by NPCI in which RBI had increased the daily transaction limit in which you can do a transaction of ₹ 1000 at a time and the daily limit has been increased from 2000 to 5000.
