scorecardresearchRBI stops non-bank PPI issuers from loading wallets, cards via credit lines

RBI stops non-bank PPI issuers from loading wallets, cards via credit lines

Updated: 22 Jun 2022, 07:57 AM IST
TL;DR.
As per the Master Directions on Prepaid Payment Instruments (PPI-MD) issued by the central bank, PPIs are permitted to be loaded / reloaded by cash, debit to a bank account, credit and debit cards, PPIs and other payment instruments issued by regulated entities in India and shall be in INR only.
FILE PHOTO: A man walks behind the Reserve Bank of India (RBI) logo inside its headquarters in Mumbai, India, April 8, 2022. REUTERS/Francis Mascarenhas

FILE PHOTO: A man walks behind the Reserve Bank of India (RBI) logo inside its headquarters in Mumbai, India, April 8, 2022. REUTERS/Francis Mascarenhas