The draft federal law On Repealing Part 17 of Article 11 of the federal law On Banks and Banking Activities was introduced by the Russian Government. It was approved by the State Duma in its first reading on April 12, 2013.

The amendments to the law are designed to encourage non-cash transactions. The document introduces amendments to Article 861 of Part Two of the Russian Civil Code. The Bank of Russia will determine the maximum amount of cash that can be paid to legal entities by citizens not involved in business activities. The amendments also establish administrative responsibility for violating the payment procedures by accepting excessive cash payments from citizens.