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URL copied 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

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