RBI Announces UPI Lite Integration With E-Mandate Framework; Now You Can Autofill Your UPI Lite Balance

New Delhi: The Reserve Bank of India has announced the integration of UPI Lite with the e-mandate framework. This will enable automatic replenishment of UPI Lite balances. Governor Shaktikanta Das stated that this move aims to make small-value digital payments more convenient.

"The UPI Lite facility currently allows a customer to load his UPI Lite wallet upto Rs 2000 and make payments upto Rs 500 from the wallet. In order to enable the customers to use the UPI Lite seamlessly, and based on the feedback received from various stakeholders, it is proposed to bring UPI Lite within the ambit of the e-mandate framework by introducing an auto-replenishment facility for loading the UPI Lite wallet by the customer, if the balance goes below a threshold amount set by him/her. Since the funds remain with the customer (funds move from his/her account to wallet), the requirement of additional authentication or pre-debit notification is proposed to be dispensed with," stated the RBI.

Governor Shaktikanta Das during the RBI MPC meeting said  "UPI Lite was introduced in September 2022 to enable small value payments in a quick and seamless manner through an on-device wallet.” (Also Read: RBI Sticks To 6.5% Key Lending Rate For 8th Consecutive Time, Fighting Inflation Remains Focus)

He further added, “To encourage wider adoption of UPI Lite, it is now proposed to bring it under the e-mandate framework by introducing a facility for customers to automatically replenish their UPI Lite wallets if the balance goes below the threshold limit set by them. This will further enhance the ease of making small value digital payments," said Governor Shaktikanta Das during the RBI MPC meeting. (RBI Governor Shaktikanta Das To Announce Monetary Policy Amid Rising Inflation Concerns)

Launched by the National Payments Corporation of India (NPCI) in September 2022, UPI Lite is available on platforms like Paytm, the BHIM app, Google Pay, and more.