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RBI extends deadline of Rs 20,000 transaction limit on e-wallet, prepaid card
Written By ZeeBiz WebTeam
Published: 9:13 PM, Dec 30, 2016 | Updated: 1:00 PM, Dec 31, 2016
The transaction limit has been maintained at Rs 20,000 until a further announcement from the RBI.
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A woman checks her wallet as she stands in a queue outside the RBI to exchange her old high denomination bank notes in New Delhi. Photo: Reuters
The Reserve Bank of India (RBI) on Friday announced that the Rs 20,000 transaction limit for prepaid cards and e-wallets will continue. RBI has decided to maintain the limit in the Rs 20,000 range for transactions for prepaid cars and e-wallets until it gives further order.
The Rs 20,000 transaction limit on transactions for prepaid cards and e-wallets was supposed to be end on December 30.
Earlier, without the KYC the RBI had allowed transactions limited upto Rs 10,000 for e-wallets and prepaid cards. This was then increased to Rs 20,000 on November 23 following the government's demonetisation move.
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The RBI had also increased the limit to Rs 50,000 for merchant bank transfers.
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