E-wallet limit doubled to Rs 20,000, says Shaktikanta Das

No service charge will now be levied for use of debit cards till December 31, 2016

GN Bureau | November 23, 2016


#e-wallet   #service charge   #debit cards   #RBI   #Demonetisation  
E-wallet limit doubled to Rs 20,000, says Shaktikanta Das
Photo: Twitter/CC

The Reserve Bank of India (RBI) on Wednesday doubled the balance that can be kept in prepaid wallets and cards to Rs 20,000. Also, merchants can transfer up to Rs 50,000 per month from these so-called semi-closed prepaid payment instruments to their bank accounts. The relaxation will be applicable until December 30, the RBI said.

 
Department of economic affairs secretary Shaktikanta Das told media that the government decided that no service charge will now be levied for use of debit cards till December 31, 2016 and that the move is meant to ensure greater penetration of digital transaction. These steps have been taken in order to ease the pain of the common man.
 
Prime minister Narendra Modi had on November 8 announced the government’s decision to demonetise Rs 500 and Rs 1,000 notes. 
Das had on Sunday clarified that concession, given to farmers and to those having wedding in house, to withdraw up to Rs 25,000 per week from their bank accounts has been not been withdrawn by the government. In addition, traders who are registered with the Agricultural Produce Market Committee were allowed to withdraw up to Rs 50,000 per week for a smooth procurement process.
But the amount of money that an individual can exchange by handing over the old Rs 500 and Rs 1,000 notes in banks has been lowered to Rs 2,000 since last Friday.

Comments

 

Other News

People of Delhi now hate Kejriwal: Vijay Goel

What is your perception about Arvind Kejriwal’s brand of politics?   In Delhi, after the BJP and the Congress, people wanted to give the Aam Aadmi Party a chance. However, after the Delhi assembly polls, his (Kejriwal`s) political fortune has been on the declin

BHEL’s biggest foreign power project takes off in Bangladesh

Bharat Heavy Electricals Limited’s biggest export order, valued at Rs 10,000 crore for setting up 1,320 MW Maitree thermal power project in Bangladesh has taken-off following the issuance of the ‘notice to proceed’ by the developer.   BHEL said that it won a

For a free and open access

Mozilla is working on two separate goals in net neutrality. One is to bring everyone online; ensure that everyone has access to the internet. The other is to ensure that the network should remain open and diverse. We want people to have access to the whole diversity of the internet and not just in

RSGL, GAIL Gas to set up gas infra in Rajasthan

In a significant step towards setting up of retail gas infrastructure in Rajasthan and opening CNG corridors to connect key cities, a business transfer agreement (BTA) was signed between Rajasthan State Gas Limited (RSGL) & GAIL Gas Ltd.   The agreement is aimed at transf

The might of monies

India Today conducted a cash-for-vote sting operation in the recent assembly polls which revealed how candidates were blatantly violating election commission (EC) guidelines by bribing voters. It also exposed large amounts of money being spent in campaigning as some leaders admitted to spending sev

Why India needs a bullion bank

India’s affinity for gold is a well-known fact, so is its dependence on gold imports to meet the domestic demand. More than 98 percent of the gold consumed in the country is met through import, while the rest is met through recycled domestic gold. In 2015-16, India imported 926 tonnes of gold



Video

Current Issue

Opinion

Facebook    Twitter    Google Plus    Linkedin    Subscribe Newsletter

Twitter