KARACHI – The State Bank of Pakistan (SBP) has temporarily enhanced the transaction/balance limits for various categories to facilitate digital payments at cattle markets on the eve of Eid-ul-Azha.
The revised limits will be effective from May 31 to June 20, 2024, to facilitate the sale/purchase of animals at cattle markets. The initiative aims to address the issue of significant cash-based transactions that take place during this period by promoting digital channels as a safe and convenient alternative payment mode.
The accounts for which limits have been enhanced include, Branchless Banking L-1, Asaan Account/Asaan Digital Account and Merchant Account where a maximum balance limit of Rs5 million and exemption for balances exceeding usual limits have been afforded for biometrically verified accounts of cattle farmers/merchants and after conducting on-site due diligence.
