I don't think there is a rigid limit on the deflection of free standing pre-cast concrete, or concrete, walls. However, you should focus on ensuring there is no easily detectable deflection of the wall (non-slender), and no permanent deflection resulted from failure of the subgrade (excessive bearing stress). Both are quite subjective, and require engineering judgement. IMO, the best is to follow successful examples of the past projects, and keep the bearing stress low (compared to the allowable bearing pressure).