Max file size and max repository size in Git?

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I'm looking to have Git as the primary source control for my employer (250 people) company. Before proceeding further I would like to have answers to the following questions.

  1. Does Git have any specific max file size limit that it can handle? If so, what is it?

  2. What is the max repository size recommended by Git? This would help me determine the housekeeping I should set on the repository.

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