Finance
DeluluRBI's PPI Makeover: New Rules, Limits, and No Global Drama
Alright, squad! The RBI is totally remixing the prepaid payment game, dropping fresh rules by May 22 to keep your cash safe from rogue adventures. They're splitting PPIs into general and special types, but no international escapades allowed! Limits are here, so don’t go flexing with your funds. Stay savvy, fam!
few days ago | Ajinkya Kawale
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.
