In an important move to facilitate digital transactions in cattle markets, the State Bank of Pakistan (SBP) has temporarily increased transaction and balance limits for various account categories from May 31 to June 20.
This initiative aims to make digital payments safer and more accessible, reducing reliance on cash transactions during the busy Eid Al-Adha period in cattle markets.
The central bank’s strategy is designed to address the high volume of cash transactions typically seen in livestock markets around Eid Al-Adha.
By enhancing digital payment facilities, the State Bank hopes to streamline the buying and selling process, making it more secure and efficient for both merchants and customers.
The accounts benefiting from the increased limits include Branchless Banking Level One, Aasan Account, Aasan Digital Account, and Merchant Account.
For merchants with biometrically verified accounts, transaction limits have been raised to Rs 5 million, with waivers on balances exceeding the normal limits.
