FAQs on KVB UPI LITE

1) What is UPI LITE – “On Device Wallet”?

UPI App will have the option to enable UPI LITE i.e. “On-Device wallet” on her/his UPI App. Once enabled, the User can allocate funds from her/his bank account to UPI LITE. Such funds shall reside with the User’s bank in an escrow / pool / designated account and such balance shall reside on-device on the common library (CL) of the User’s UPI App. The UPI LITE balance is non-interest bearing.

2) How will a customer disable UPI LITE account?

The UPI application will have the option to disable/delete the UPI LITE account. Upon clicking disable button, the balance funds available with the bank in LITE account shall be transferred to the customer’s account.

3) What if customer has active UPI LITE account with balance in his mobile device and wants to change the mobile device/Lost the mobile device?

i) In case of change of mobile device, Customer should first disable the existing UPI LITE account in his mobile device so that LITE balance will be transferred to the user bank account. User can then again do a fresh LITE account creation in the new mobile device.

ii) In case of lost of mobile device, Customer can approach the Bank of the account which is registered for the UPI & UPI LITE transactions to disable the UPI facility and to get the refund of the balance available (if any) in the UPI LITE.

4) What is the limit on the number of transactions using UPI LITE?

No limit for the number of transactions. The transactions can be performed as per the prescribed transaction limits. Per transaction limit: less than or equal to Rs.500/- and cumulative maximum spend per day is Rs.4000/-.

5) What is maximum money can be added/maintained in the UPI LITE?

Rs.2000/- (maximum).

6) Whether different UPI LITE accounts shall be maintained?

Yes, UPI LITE can be activated across different UPI Apps, however one UPI APP can have only one UPI LITE active.

7) Whether the money can be added in UPI LITE through Debit/Credit card?

The money to UPI LITE can be added through the bank account linked with the respective UPI App, but not through Debit/Credit card mode.

8)Does UPI LITE have any transaction Charges?

No.

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