Online Transaction Limits Increased – The State Bank of Pakistan (SBP) has announced a temporary enhancement of transaction and balance limits for various account categories to facilitate digital payments at cattle markets in anticipation of Eid-ul-Azha. This strategic move, effective from May 31 to June 20, 2024, aims to promote safer and more convenient digital transactions during the bustling cattle market season.
In an effort to mitigate the heavy reliance on cash transactions typically observed during this period, SBP has increased the maximum balance limit to Rs5 million for specific accounts. This enhancement applies to Branchless Banking L-1, Asaan Account/Asaan Digital Account, and Merchant Accounts. Furthermore, these accounts, especially those of cattle farmers and merchants, will be exempt from usual balance limits provided they are biometrically verified and have undergone on-site due diligence.
This initiative underscores SBP’s commitment to advancing digital financial inclusion and ensuring secure transaction methods in high-volume cash transaction environments such as cattle markets. By fostering digital payment adoption, SBP aims to offer a more efficient, secure, and convenient alternative to cash-based transactions for all stakeholders involved in the Eid-ul-Azha cattle trade.
 has announced a temporary enhancement of transaction and balance limits for various account categories to facilitate digital payments at cattle markets in anticipation of Eid-ul-Azha. This strategic move, effective from May 31 to June 20, 2024, aims to promote safer and more convenient digital transactions during the bustling cattle market season.){kind=link}