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.
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