The Presidents/Chief Executives
All Banks/ Microfinance Banks (MFBs)



Dear Sirs/ Madams,

Measures to Combat COVID 19 Pandemic -
Regulations for Digital On-boarding of Merchants

            Please refer to BPRD’s Circular Letter No.01 of 2020 dated January 06, 2020 on “Regulations for Digital On-boarding of Merchants”.

2.         In order to minimize the risk of COVID-19 spread due to Biometric Verification and to promote digital payments, transaction limit for non-biometrically verified merchant accounts has been increased from Rs. 50,000/- to Rs. 500,000- per month till September 30, 2020. Similarly, the maximum account balance of such merchant accounts has been increased to
 Rs. 500,000- per month till September 30, 2020.

3.     Banks/ MFBs shall maintain a list of these merchants and shall conduct Biometric Verification till September 30, 2020. In case of non- Biometric Verification of these merchants till September 30, 2020, transaction limit and maximum account balance will be reduced to Rs. 50,000/- per month.

4.          All other instructions on the subject regulations shall remain the same.     

5.          Please acknowledge receipt.