RBI UPI Payment Offline Feature: The Reserve Bank of India has made a big announcement regarding UPI payment, which can benefit people. In the Monetary Policy Committee (MPC) meeting on Thursday, August 10, RBI Governor Shaktikanta Das announced several new features for UPI. Along with this, UPI has also got a major upgrade.
In fact, India’s popular UPI for digital payments is getting a major upgrade with several new features. These are titled by Conversational Payments, a new way to make payments by chatting with AI-powered systems.
With an aim to use cutting edge technology to enhance digital payments, NPCI plans to introduce ‘Conversational Payments’ on UPI, an AI-powered system for users to make payments in a safe and secure environment be able to engage in conversation with
Will be available in many languages along with Hindi, English
RBI Governor Shaktikanta Das will support the conversational payments feature not only for smartphones but also for feature phones. Through this, digital will be promoted across the country and more and more people will be able to take advantage of this facility. In India, it will be made available in Hindi and English first, after which it will be made available in other Indian languages as well. For this, NPCI will soon get instructions from RBI.
This is how people will benefit
RBI has increased the per transaction limit for UPI Lite in offline mode. Under this, it has also been proposed to increase offline transactions from Rs 200 to Rs 500. Currently, RBI has set a limit of Rs 200 per transaction and Rs 2000 per payment instrument for small value digital payments in offline mode with National Common Mobility Card (NCMC) and UPI Lite.
