RBI extends deadline of Rs 20,000 transaction limit on e-wallet, prepaid card

The transaction limit has been maintained at Rs 20,000 until a further announcement from the RBI.

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.

The RBI had also increased the limit to Rs 50,000 for merchant bank transfers.

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