RBI Allows Banks & Non-Banks to Issue PPIs for Transport Payment

26
Feb

By: Prakash Sachin and Co Weekly News Bulletin No Comments

RBI through notification no. RBI/2023-24/126 dated 23.02.2024 permits authorized banks and non-banks to issue PPIs for making payments across various public transport systems. These instructions are issued under Section 18 r.w.s 10(2)of the Payment and Settlement Systems Act, 2007, and shall come into effect immediately.