Maximum end-of-day balance hiked from Rs 1 lakh to Rs 2 lakh for Payments Banks

The guidelines for Licensing of Payments Banks issued in 2014 allowed 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.
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