MASTER DIRECTIONS ON THE ISSUANCE AND OPERATION OF PREPAID PAYMENT INSTRUMENTS IN INDIA

Published On: 01/11/2017

Authors:

Suneeth Katarki
Ashi Bhat
For over a decade now, Indian banks and non-bank entities have been issuing prepaid payment instruments ('PPIs') after obtaining necessary approvals from the Reserve Bank of India (the 'RBI') under the Payment and Settlement Systems Act, 2007 (the 'PSS Act').