RBI allows UPI access for prepaid payment instruments

RBI approves PPI holders to make UPI payments via third-party apps
RBI allows PPI users to use UPI payments via third-party apps, enhancing interoperability and convenience for digital transactions.
RBI Greenlights UPI Payments via Prepaid Wallets
The Reserve Bank of India has authorized the use of prepaid payment instruments (PPIs) for UPI transactions on third-party apps. This move provides PPI users like gift card or digital wallet holders more flexibility by allowing transactions to be authenticated with existing PPI credentials.
RBI Allows PPIs To Use UPI Via Third-Party Apps
RBI has announced that Prepaid Payment Instruments (PPIs) with full KYC will now be able to make UPI payments through third-party apps
RBI allows UPI access through prepaid payment instruments for full-KYC third-party applications
Earlier, UPI payments from or to a bank account could be carried out using the UPI application of that bank or of any third-party application provider. However, UPI payments from or to a PPI could only be carried out using the mobile application provided by the PPI issuer.
Prepaid users can now make UPI payment via third-party apps
The decision is aimed at providing more flexibility to holders of PPIs such as gift cards, metro rail cards and digital wallets, among others.
RBI permits UPI transactions via PPI wallets using third-party apps
RBI permits users of full-KYC prepaid payment instruments (PPIs) to make and receive UPI payments via third-party mobile apps. The decision expands digital payment options, improves flexibility for PPI holders,
Rupee hits record low on strong NDF dollar bids; RBI likely steps in
The Indian rupee weakened to an all-time low on Friday, hurt by persistently strong dollar demand in the non-deliverable ...
Daily Excelsior1h
Singh’s contributions as architect of India’s economic reforms have left indelible mark: RBI Guv
Manmohan Singh’s contributions as the architect of India’s economic reforms have left an indelible mark, RBI Governor Sanjay ...
RBI Announces ‘FREE-AI’ Committee To Ensure Ethical AI In Finance
The Reserve Bank of India (RBI) has announced the creation of an eight-member committee to develop a framework for the ...
Rupee hits new low as RBI’s forward strategy stir markets
Indian Rupee hits record low at 85.81 per dollar, driven by RBI actions, market activity, and speculation, experts say.
devdiscourse1d
RBI's Alarming Spike in Banking Frauds: A Wake-up Call for the Financial Sector
Recent RBI data highlights a concerning surge in bank frauds in India, with cases spiking significantly in the current fiscal ...
Shillong Times5h
Town hall meet celebrates RBI’s history, feats and contributions
As part of the Reserve Bank of India’s 90th anniversary celebrations, a town hall meeting was recently held in the state ...
Season for Sharing: Indy RBI seeks to level the baseball diamond
The nonprofit youth baseball and softball league, which aims to create "major league citizens," served 1,875 kids last year.
Moneylife15h
RBI Highlights Rising Risks in Unsecured Lending and Private Credit Markets
The Reserve Bank of India (RBI) has raised concerns about the growing risks associated with unsecured lending and private ...