News > Now Withdraw Cash From Digital Wallets, Prepaid Cards; Limit Raised To Rs 2 Lakh

Now Withdraw Cash From Digital Wallets, Prepaid Cards; Limit Raised To Rs 2 Lakh

Good Returns | 07/04/2021 01:00 PM | Click to read full article

Today, it was announced that customers who are fully KYC compliant will be able to withdraw cash from non-bank entities. Prepaid payment instruments are also known as PPIs.

To encourage the migration of PPIs to full-KYC, it is proposed that the outstanding balance limit in such PPIs be increased from Rs 1 lakh to Rs 2 lakh.