The National Payments Corporation of India (NPCI) on November 02, 2023, issued a circular regarding the AePS transaction limits.
Issuer Banks are recommended to assess the AePS monthly transaction restrictions set for their customers, taking into account the profile of AePS users and further reviewing the monthly usage within the ecosystem. It is recommended that they permit their clients to make AePS Cash Withdrawals and BHIM Aadhaar Pay transactions, with a monthly cumulative cap of Rs. 50,000.
NPCI recommends the limit be considered on a rolling 30 days basis. The Issuer Banks applying the limits on a per-month calendar basis may also explore the option to implement it on a rolling day basis for better limit management.
The Issuer Bank is to mandatorily send the response code as '61 - Exceeds withdrawal amount limit' for declining the AePS transactions due to the above-mentioned reason.
All Issuer Banks vide this circular are advised to implement these limits by November 30, 2023.
[Circular No. NPCI/2023-24/AePS/087]
