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Ppi News

Dollar Touched To One-Year Low of 100.78

The U.S. dollar plunged to a one-year low against a basket of currencies on Friday. The rupee appreciated by 27 paise to close at 81.84 (provisional) against the US dollar on Thursday, trailing against the broad weakness of the American currency, as ...

What is PPI and How is it different from UPI?

The Prepaid Payment Instrumentation (PPI) wallets are now allowed to participate in the interoperable UPI ecosystem, according to the National Payments Corporation of India (NPCI), and there is no fee for users. The bank account to bank account-based UPI payments will ...

RBI Prohibits Non-Bank PPI Issuers From Using Credit Lines To Load Wallets & Cards

In a key move that will affect several fintech companies, the Reserve Bank of India (RBI) ordered non-bank prepaid payment instruments (PPIs) to stop loading their PPI instruments, such as wallets and prepaid cards, through credit lines on Monday, 21 June. ...

How Will Wallet Users Be Able To Withdraw Money From ATM Or Make Merchant Payment?

In its monetary policy of FY22, the Reserve Bank of India in view of the increasing penetration of UPI and other modes has also said to allow withdrawal and merchant payment using prepaid instruments (PPIs) including wallets, forex cards. And by ...

RBI Issues New Type Of Prepaid e-Wallet For Daily Retail Payments

On Tuesday, the Reserve Bank of India (RBI) announced a new type of semi-closed Prepaid Payment Instrument for making small payments at local shops and retail outlets. The PPI comes with a monthly rechargeable limit of Rs 10,000 to use for ...

Know Your Liability In Case Of Unauthorised Banking Transaction

In a case when you report the incidence of unauthorized transaction on an immediate basis to your bank, your liability for the loss you have meted is also nil and is limited in another cases. The RBI in its 'Statement ...

For Wallet InterOperability Via UPI: KYC A Must With Net Worth Of Rs. 5 Crore

In its bi-monthly policy review meet, apart for coming up with key policy rates, the apex body also considered other important facets that needed attention. In its continuance, on Wednesday the RBI said that within a time frame of six months ...