Payment Bank client’s balance limit doubled
The Hindu
The RBI has doubled the limit of maximum balance that an individual customer can hold with payments banks (PBs) to ₹2 lakh from ₹1 lakh earlier with immediate effect to expand the ability of lenders t
The RBI has doubled the limit of maximum balance that an individual customer can hold with payments banks (PBs) to ₹2 lakh from ₹1 lakh earlier with immediate effect to expand the ability of lenders to cater to the needs of MSMEs and other businesses. The announcement in this regard was made by RBI Governor Shaktikanta Das after the meeting of the Monetary Policy Committee on Wednesday. The extant norms allow payments banks (PBs) to hold a maximum balance of ₹1 lakh per individual customer.
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