Prepaid Payment Instruments Current Affairs, GK & News

Prepaid Payment Instruments  Current Affairs, GK & News

Government issues draft rules on e-wallet payments

The Ministry of Electronics and Information Technology (MEITY) has issued draft Information Technology (Security of Prepaid Payment Instruments) Rules 2017 for Prepaid Payment Instruments (PPI) company or e wallet firms. The draft rules seek to ensure integrity, security and confidentiality of electronic payments made through PPIs. It covers an entire spectrum for protecting consumer information, ..

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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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