Bank of Russia to increase limits of cash settlements for credit cooperatives
22 February 2022
News
As planned by the Bank of Russia, the limit for consumer credit cooperatives and agricultural consumer credit cooperatives to spend proceeds from their cash desks will be increased from 100,000 rubles to 300,000 rubles. The cooperatives will be able to give out such amount to their individual shareholders without its preliminary credit to a bank account.
These amendments are stipulated in the draft ordinance of the Bank of Russia. Their aim is to make the loan issue service more accessible to the cooperatives. The effective rules for other cash settlement participants will remain unchanged.
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