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Offline payments capped at ₹200 per transaction

January 04, 2022

Offline payments capped at ₹200 per transaction
Setting the ball rolling on digital payments through the offline mode, the 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 anytime until the balance in the account is replenished. 

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

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

The RBI said, “Offline transactions are expected to give digital transactions a push in locations with weak internet connectivity, particularly in semi-urban and rural areas”.

In October last year, the Central Bank had indicated that it would come up with a framework for carrying out small digital payments in offline mode across the nation, after the pilot tests undertaken by various entities during September 2020 and July 2021 gave encouraging feedback. 

The Central Bank had announced its intention of doing pilot tests on transfers without internet in the developmental and regulatory statement dated in August last year. After that, three pilots were successfully conducted under the scheme in various parts of the nation between September 2020 and June 2021, involving small transactions covering a volume of 2,41,000 for a value of ₹1.16cr.
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