Designed by the National Payments Corporation of India (NPCI), UPI LITE was launched by the Reserve Bank of India in September 2022. It also de-clutters the bank passbook of small value transactions, as these payments would now only show in the Paytm balance and history section, and not in the bank passbook.source https://economictimes.indiatimes.com/industry/banking/finance/banking/paytm-payments-bank-becomes-first-to-launch-upi-lite-feature/articleshow/97937785.cms
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