RBI's New PPI Rules: A Fun Payment Playground Shake-Up

The RBI is shaking up the prepaid payment world! They're rolling out new rules for PPIs, asking for feedback by May 22. Now, we have general and special purpose PPIs, each with their own limits and uses. Plus, no cross-border fun allowed! It’s all about keeping our payment playground safe and sound.

Quick rundown

1.RBI proposes new rules for prepaid payment instruments.

2.General and special purpose PPIs introduced.

3.Cross-border transactions not allowed with PPIs.

4.Full-KYC PPIs have a minimum validity of one year.

5.PPI interoperability with UPI is encouraged.

RBI's Bold Payment Overhaul: Fast, Cheap, No Red Tape!
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