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Mobile wallet accounts limit raised to Rs 2 lakh

The Reserve Bank of India (RBI) has doubled the limit of maximum balance that an individual customer can hold with Payments Banks.

Payments Banks can now hold a maximum balance of Rs 2 lakh per individual customers at the end of the day.

To incentivise the migration of PPIs to full-KYC, it is proposed to increase the limit of outstanding balance in such PPIs from the current level of Rs 1 lakh to to Rs 2 lakh, an RBI statement said.



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