Mobile Wallets Current Affairs, GK & News

RBI Report pushes for Digital Transactions

The Reserve Bank of India (RBI) report Payment and Settlement: The Plumbing in the Architecture of India s Financial System makes the following observations about digital payments: India s effort to build a less-cash economy is gathering momentum. Digital transactions have witnessed phenomenal growth in digital transactions until March 2019. RBI has set an ambitious ..

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RBI doubles cap on PPIs to Rs. 20,000

The Reserve bank of India (RBI) has increased the per month limit of Prepaid Payment Instruments (PPIs) to Rs. 20,000 from Rs. 10,000 and to Rs. 50,000 for merchant bank. This decision was taken due to sudden increase in demand for digital wallets (especially mobile wallets) after Government announced demonetisation of Rs. 500 and Rs. ..

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