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RBI Raises the Upper Limit for Small-value Offline Digital Payments to Rs 500

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Offline Digital Payments

Circular No. RBI/2023-24/57 CO.DPSS.POLC.No.S526/02-14-003/2023-24, Dated: 24.08.2023

Earlier, the RBI prescribed a framework for facilitating small-value digital payments in offline mode to encourage technological innovations. Further, in a Statement on Development and Regulatory Policies dated August 10, 2023, the RBI proposed increasing the upper limit of offline payment transactions to Rs 500. Now, the RBI has enhanced the upper limit of offline digital payment transactions from Rs. 200 to Rs. 500. This directive is effective immediately.

Click Here To Read The Full Circular

The post RBI Raises the Upper Limit for Small-value Offline Digital Payments to Rs 500 appeared first on Taxmann Blog.

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