UPI Lite introduced by NPCI for small payments, raised limit to Rs 500 without needing a UPI pin.

RBI Governor Shaktikanta Das unveiled UPI Lite X during the Global Fintech Fest 2023.

UPI Lite X facilitates transactions between merchants and customers, even when offline.

UPI has become a popular payment method in India for its convenience and cost-effectiveness.

UPI Lite X aims to address areas with poor connectivity, allowing offline transactions

Users can send and receive money in areas with limited connectivity, like underground stations, using UPI Lite X.

UPI Lite X utilizes Near Field Communication (NFC) for transactions.

Payments occur within on-device wallets, bypassing the need for bank accounts.

UPI Lite X promises to revolutionize digital payments in India, especially in areas with limited connectivity.