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.
