The Reserve Bank of India vide its notification dated 8th April 2021 has decided to enhance the limit of maximum balance at the end of the day from ₹1 lakh to ₹2 lakh per individual customer of Payment banks with immediate effect.
Earlier in the guidelines on Licensing of Payment Bank (Licensing Guidelines) the PBs were restricted to hold a maximum balance of ₹1 lakh per individual customer at the end of the day. It was also indicated in the guidelines that after gauging the performance of the PBs, RBI may consider increasing the maximum balance limit.
Therefore Considering the progress made by PBs in furthering financial inclusion and with the objective of giving more flexibility to the PBs, it has been decided to enhance the limit of maximum balance at the end of the day from ₹1 lakh to ₹2 lakh per individual customer of PBs.
