New Delhi, Feb. 26 -- National Payments Corporation of India (NPCI) has rolled out a new rule with regards to UPI Lite which will come into force from April 1, 2025. By releasing a new circular, the retail payments and settlement systems company has directed all banks to implement 'Transfer Out' functionality.

NPCI's circular also states that this latest rule of 'transfer out' is aimed to enhance user convenience.

This is a new feature which will enable users to withdraw funds from their UPI Lite balance to the source bank account from which it was loaded without disabling UPI Lite.

NPCI has also said that all the issue banks live on UPI lite are supposed to maintain LRN (lite reference number) level balances and ensure that reconcilia...