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RBI launches new ‘prepaid’ payment instrument for digital transactions

By
Lucky Jain
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486
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(G.N.S) Dt. 25 Mumbai Reserve Bank on Tuesday introduced a ‘Semi Closed Prepaid Payment’ product (PPI), acting as a payment gateway, to promote small value digital transactions. It can be used to purchase goods and services up to Rs 10,000. This can be in card or electronic form. Bank products will only be allowed

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