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RBI introduces new pre-paid payment instrument upto Rs. 10,000 for small digital payments

December 26, 2019
To give impetus to small value digital payments and for enhanced user experience, the RBI has decided to introduce a new type of semi-closed Prepaid Payment Instrument (PPI). PPIs shall be issued by bank and non-bank PPI Issuers after obtaining minimum details of PPI holder. PPIs shall be reloadable and issued in card or electronic form. Loading /Reloading shall be only from a bank account.
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