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In a bid to help small merchants meet transactional needs after demonetisation, the Reserve Bank of India on Tuesday said it has doubled the limit balance that can be kept in digital wallets to Rs 20,000.

The RBI, in a statement released on Tuesday, said: ” A special dispensation has now been enabled for small merchants whereby PPIs issuers can issue PPIs to such merchants. While balance in such PPIs cannot exceed Rs 20,000  at any point of time, the merchants can transfer funds from such PPIs to their own linked bank accounts upto Rs 50,000 per month, without any limit per transaction.”

The relaxation will be applicable until December 30, the RBI said. 

 

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