RBI Issues Fresh Master Directions on ‘Prepaid Payment Instruments’
- Blog|News|FEMA & Banking|
- < 1 minute
- By Chetan Kulasri
- |
- Last Updated on 29 February, 2024
Latest from Taxmann
Master Direction No. RBI/DPSS/2021-22/82 CO.DPSS.POLC.No.S-479/02.14.006/2021-22; Dated: 23.02.2024
RBI has issued fresh master directions on ‘Prepaid Payment Instruments’ (PPIs). As per the master directions, banks/non-banks are permitted to issue PPIs. These PPIs can be issued without KYC verification of the holders and can be reloadable in nature. Further, such PPIs must be enabled only for payments across various modes of public transport such as metro, buses, rail, waterways, tolls and parking. These shall be effective from the date they are placed on the RBI website.
Click Here To Read The Full Updates
Disclaimer: The content/information published on the website is only for general information of the user and shall not be construed as legal advice. While the Taxmann has exercised reasonable efforts to ensure the veracity of information/content published, Taxmann shall be under no liability in any manner whatsoever for incorrect information, if any.
CA | CS | CMA
