Please refer to BPRD Circular Letter No. 10 and 11 dated March 26, 2020 regarding Branchless Banking Operations and Digital On-boarding of Merchants respectively.
2. Keeping in view the ongoing impact of COVID-19 pandemic in the country, it has been decided to extend the validity of the following instructions of SBP, as stipulated in above referred Circular Letters, till December 31, 2020:
- Biometric verification of legacy Branchless Banking Level “1” accounts.
- Cash with-drawl/Cash deposit up to Rs. 25,000/- per month in Branchless Banking Level “0” account without Biometric Verification.
- Non applicability of daily transaction limit on Branchless Banking Level “0” account on payments to trusted merchants(such as schools, hospitals, utility companies, merchants etc.).
- Biometric and Business Place verifications at the time of Agents’ on-boarding through digital channels.
- Monthly transaction and account balance limits of Rs. 500,000/- for non-biometrically verified merchants.
2. Further, timeline for phasing out of Person to Person transfers through Branchless Banking channel, as mandated vide BPRD Circular No. 10 of 2019, has been extended from June 30, 2020 to December 31, 2020.
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