RBI enhanced the transaction limits for the

Aug 26, 2023 | by TeamLease RegTech Legal Research Team

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Industry Specific Compliance The Reserve Bank of India (RBI) on August 24, 2023, issued a notification regarding Enhancing transaction limits for Small Value Digital Payments in Offline Mode.

The following has been stated namely: -

• Reference is drawn to circular CO.DPSS.POLC.No.S1264/02-14-003/2021-2022 dated January 03, 2022, on “Framework for Facilitating Small Value Digital Payments in Offline Mode”

• The upper limit of an offline payment transaction is increased to ₹500

This has come into effect on August 24, 2023.

[Notification No. RBI/2023-24/57]

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