It is planned to increase restrictions on cash payments three times.

The National Bank of Ukraine proposes to restrict cash payments with participation of individuals to the amount of UAH 50 thousand and suggests that the public should discuss this initiative, NBU site reports.

“NBU proposed to set the maximum amount totaling UAH 50 ths for cash payments by individuals to enterprises (entrepreneurs) within one day for goods (works, services), as well as by individuals to each other under sale and purchase contracts, which are subject to notarial certification”, the message says.

NBU reminds that as of today the maximum amounts for cash payments are set as follows: UAH 10 ths – enterprises (entrepreneurs) to each other within one day; UAH 150 ths – individuals with enterprises (entrepreneurs) within one day for goods (works, services) and individuals to each other under sale and purchase contracts, which are subject to notarial certification.

According to NBU data, the comprehensive program of development of the financial sector of Ukraine provides to ensure the cash rate in economy not higher than 12% till 2020 – in 2014 this indicator made up 18.1%, and as per results of 2015 it decreased by 14.6%.

“The growth of bank transfers will increase the proceeds of financial resources of the subjects of national economy to the banking system and will increase the liquidity of banks. The decrease of cash payments will promote unshadowing of the country’s economy and increase proceeds to the State Budget of Ukraine”, the message says.

The suggestions and remarks to the relevant draft NBU resolution are accepted until September 5.