RBI amends directions on Prepaid Payment Instruments

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The RBI in its latest directive has decided to permit authorised bank and non-bank Prepaid Payment Instrument (PPI) issuers to issue PPIs for making payments across various public transport systems.

The purpose of this is to offer commuters convenience, speed, affordability, and safety of digital modes of payment for transit services.

In June, 2023, monetary policy, the RBI said it will allow non-banking prepaid payment instruments issuers to issue e-RUPI vouchers.

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