RBI announces new prepaid payment tool for transactions upto Rs 10,000 a month
Shortpedia
Content Team
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RBI has announced a new type of prepaid payment instrument (PPI) which could be used only for the purchase of goods and services up to a limit of Rs 10,000 per month. "To give impetus to small value digital payments and for enhanced user experience, it has been decided to introduce a new type of semi-closed PPI," RBI said in a circular. The amount outstanding at any point of time in such PPIs shall not exceed Rs 10,000.
