English Edition

Reserve Bank of India introduces innovative digital payment system, PPI

RBI introduces innovative digital payment system. It is possible to buy goods & services via RBI Prepaid Payment Instrument (PPI). This facility is available via banking and non-banking companies. NPCI will collaborate for the venture. Aim is to promote small value digital payments.

Through PPI, one can load upto Rs 10,000 a month. A financial year’s remittance should not exceed Rs 1,20,000. PPI can be closed anytime. Feasible only via verified mobile number linked to the bank. No interest for the amount in PPI.

Leave a Reply

Back to top button