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RBI launches new prepaid payment instrument for digital transactions

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  • Date Added: Feb 03, 2020
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TIMESOFINDIA/PTI DEC-2019 The Reserve Bank of India (RBI) on Tuesday introduced a new semi-closed prepaid payment instrument (PPI) which can be used for transaction of goods and services up to a limit of Rs 10,000. The loading facility of the instrument will be linked only from a bank account. In the monetary policy review earlier this month, the RBI had said it will introduce these kind of PPIs in order to promote small value digital transactions.