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Payment banks balance limit doubled to Rs 2 lakh
In a bid to push the digital payments banks in the country, the Reserve Bank of India (RBI) on Wednesday announced to double the maximum balance limit at end of the day from Rs 1 lakh to Rs 2 lakh per individual customers of payments banks. Payments banks have been demanding a hike in deposit limit for a long time. The limit has been enhanced with immediate effect. The extant Guidelines for Licensing of Payments Banks issued on November 27, 2014 allow payments banks to hold a maximum balance of Rs 1 lakh per individual customer. Based on a review of performance of payments banks and with a view to encourage their efforts for financial inclusion and to expand their ability to cater to the needs of their customers, including MSMEs, small traders and merchants, it has been decided to enhance the limit of maximum balance at end of the day from Rs 1 lakh to Rs 2 lakh per individual customer, the RBI said in
RBI increases maximum balance limit to Rs 2 lakh for payments banks
The earlier limit was Rs 1 lakh. This decision has been taken to enhance financial inclusion. The apex bank s announcement comes over a long-standing demand of the payments bank sector
BusinessToday.In | April 7, 2021 | Updated 12:15 IST
RBI revises payments banks maximum balance limit
Reserve Bank of India has increased the maximum balance limit at the end of the day for payments banks to Rs 2 lakh. The earlier limit was Rs 1 lakh. This decision has been taken to enhance financial inclusion. The apex bank s announcement comes over a long-standing demand of the payments bank sector.
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Paytm reaches 15M monthly users mark on Mini App Store
In October last year, Paytm had unveiled its Android Mini App Store to support Indian developers after its tussle with tech giant Google.
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Fintech major Paytm on Monday said over 600 apps have been featured on its Mini App Store with more than 15 million monthly users coming to the platform.
In October last year, Paytm had unveiled its Android Mini App Store to support Indian developers after its tussle with tech giant, Google. With more than 15 million monthly users on Mini apps alone, the platform is already helping hundreds of app developers across India further accelerate their business and reach their target users. In the last few months, over 600 apps have been featured on the Mini App Store with an additional 1,000 in the pipeline, a statement said.
Fintech major Paytm on Monday said over 600 apps have been featured on its Mini App Store with more than 15 million monthly users coming to the platform. In October last year, Paytm had unveiled its Android Mini App Store to support Indian developers after its tussle with tech giant, Google. With more than 15 million monthly users on Mini apps alone, the platform is already helping hundreds of app developers across India further accelerate their business and reach their target users. In the last few months, over 600 apps have been featured on the Mini App Store with an additional 1,000 in the pipeline, a statement said.