RBI Doubles Payment Bank's Deposit Limit To 2L; Extends NEFT, RTGS
Reserve Bank of India (RBI), on April 7, announced the doubling of the maximum deposit limit to Rs 2 lakhs from Rs 1 lakh in digital payment banks, under the "Guidelines for Licensing of Payments Banks". The limit was extended "to expand their (banks) ability to cater to the needs of their customers." Additionally, it has also extended RTGS and NEFT services to payments bank users.
Tags: RBI, Payments Banks, Digital Payments, Deposit Limit
Courtesy: Live Mint