Reserve Bank of India (RBI) increased the cap on daily mobile transactions to Rs.50000/- per day from earlier limit of Rs.5000/- a day for fund transfers and Rs.10000/- a day for purchases. RBI has also permitted banks to allow transactions without end-to-end encryption up to a limit of Rs.1000/- and asked banks to make provision for adequate security measures.
Source: http://www.thehindubusinessline.com/2009/12/25/stories/2009122552000400.htm
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