RBI caps upper limit of offline payment transaction at 200 TUC DAMCINODV
Business Standard|January 04, 2022
Setting the ball rolling on digital payments through the offline mode, the Reserve Bank of India (RBI) on Monday released a framework for such payments, wherein it stated that the upper limit of an offline payment transaction will be $200, the overall limit 2,000 on a payment instrument at any point in time until the balance in the account is replenished.
SUBRATA PANDA

Offline payments can be made using any channel or instrument like cards, wallets, and mobile devices, the RBI had stated.

According to the RBI, an offline payment means a transaction not requiring internet or telecommunication (telecom) connectivity to take effect.

"Offline transactions are expected to give digital transactions a push in areas with poor or weak internet or telecom connectivity, particularly in semi-urban and rural areas," the RBI said.

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