Raising the issue in Rajya Sabha during Zero Hour, Naidu said the policy decision was announced by Moily outside the House when Parliament was in session.
This is also violation of "code of conduct" as elections were going on in some parts of the country and the announcement could "influence" the voters, he said.
"This is misuse of the office," he said terming it as a matter of breach of privilege.
Naidu had raised the issue yesterday also.
Moily had day before yesterday stated that the decision to raise the cap will be taken by the Cabinet "very shortly" and that he had two rounds of discussion with Finance Minister P Chidambaram on the impact of the decision.
