President Kenyatta on October 20 directed the Treasury to come up with a higher threshold for cash deposit and withdrawals in banking halls.
Businesses and individuals transacting more than Sh1 million are required to declare to their bankers why the money cannot be deposited or withdrawn through electronic means.
Big cash transactions worth more than Sh1 million fell to a 17-month low in October as Kenyans hoped to take advantage of a presidential directive to raise the limit on cash withdrawals and deposits.
Data by the Central Bank of Kenya (CBK) shows that bulk transactions totalling Sh2.55 trillion were cleared and settled through the real-time gross payment system (RTGS) and the Kenya electronic payments and settlement system (KEPPSs) in October.
