rahul1117kumar
Member
- Joined
- 21 Jun 2013
- Messages
- 10,365
- Reaction score
- 11,058
The Reserve Bank of India ( RBI ) has allowed co-operative banks, who are permitted to install ATMs and issue debit cards, to also issue prepaid payment instruments PPIs like
mobile wallets .
In a notification issued late on Thursday, RBI laid down strict norms and conditions to be followed by co-operative banks before permitting them to issue wallets for utility bill payments and other activities up to a limit of Rs 10,000.
“It has been decided to permit all licenced co-operative banks having their own ATM network to issue semi-closed PPIs,” RBI said in a statement.
RBI allows co-operative banks to issue mobile wallets - ET Telecom - Laying down strict regulations, RBI allowed co-operative banks to issue wallet...
mobile wallets .
In a notification issued late on Thursday, RBI laid down strict norms and conditions to be followed by co-operative banks before permitting them to issue wallets for utility bill payments and other activities up to a limit of Rs 10,000.
“It has been decided to permit all licenced co-operative banks having their own ATM network to issue semi-closed PPIs,” RBI said in a statement.
RBI allows co-operative banks to issue mobile wallets - ET Telecom - Laying down strict regulations, RBI allowed co-operative banks to issue wallet...
