RBI Increases Digital Wallet Balance Limit To Rs 20,000 | TechTree.com

RBI Increases Digital Wallet Balance Limit To Rs 20,000

You can now add up to Rs 20,000 in PayTM, Freecharge, and MobiKwik.

 

The recent currency demonetisation prompted many people to start using digital wallets such as PayTM, Freecharge, and MobiKwik. However, the wallet cash was capped at Rs 10,000 per month, which was quite a hindrance to those looking to go completely electronic during the cash crunch. Thankfully, RBI has acknowledged the ongoing inconvenience and in effect has increased the balance limit to Rs 20,000 per month.

As per RBI's press release, the new measures will be effective till 30th of December, 2016. For those who speak the finance language, here's the statement from RBI: "The limit of semi-closed PPIs issued with minimum details has been enhanced to ₹ 20,000/- from the existing ₹ 10,000/-. The total value of reloads during any given month has also been enhanced to ₹ 20,000/-."



As first reported by FoneArena, FreeCharge and MobiKwik have lauded RBI's decision to double the limits for users. On a related "note", do check out our currency demonetisation survival guide for India.


TAGS: e-Wallets

 
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