RBI doubles balance limit for digital wallets to ₹20,000
In the wake of government's demonetisation move and increased efforts towards a cashless economy, the Reserve Bank of India (RBI) on Tuesday doubled the balance limit of digital wallets like Paytm to ₹20,000. Additionally, merchants can transfer up to ₹50,000 every month from these prepaid wallets to their bank accounts. The relaxation will be applicable until December 30.