Enhancement of limit of maximum balance per customer at end of the day from ₹1 lakh to ₹2 lakh – Payments Banks (PBs)

Last updated: 09 April 2021

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The Reserve Bank of India has announced an increase in the maximum end-of-day balance limit for Payments Banks (PBs). Effective immediately, customers can now hold up to £2 lakh per individual, an increase from the previous limit of £1 lakh. This change aims to provide PBs with more flexibility and support their role in advancing financial inclusion. All other terms and conditions from the original licensing guidelines remain unchanged.

Reserve Bank of India RBI/2021-22/20 DoR.LIC.REC.5/16.13.218/2021-22 April 8, 2021 Chief Executive Officers of Payments Banks Dear Sir/Madam, Enhancement of limit of maximum balance per customer at end of the day from ₹1 lakh to ₹2 lakh Payments Banks (PBs) Please refer to paragraph 3 ofStatement on Developmental and Regulatory Policies dated April 7, 2021on the above subject. 2. In terms of paragraph 4(i) of the Guidelines for Licensing of Payments Banks (Licensing Guidel

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FAQ :

The maximum balance limit per individual customer at the end of the day for Payments Banks has been increased from £1 lakh to £2 lakh.

This enhancement is effective immediately from April 8, 2021.

The limit has been enhanced to give Payments Banks more flexibility and to acknowledge their progress in furthering financial inclusion.

No, all other terms and conditions of the Licensing Guidelines for Payments Banks remain unchanged.

The previous maximum balance limit per individual customer at the end of the day for Payments Banks was £1 lakh.

Notification No : RBI/2021-22/20 DoR.LIC.REC.5/16.13.218/2021-22
Source : https://www.rbi.org.in/scripts/NotificationUser.aspx?Id=12074&Mode=0#:~:text=Considering%20the%20progress%20made%20by,4.

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