Master Directions on Prepaid Payment Instruments (PPIs)

Last updated: 28 August 2021

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The Reserve Bank of India (RBI) has issued updated Master Directions on Prepaid Payment Instruments (PPIs). These new directions supersede the previous guidelines from October 11, 2017, and incorporate recent updates to PPI regulations. They are issued under the Payment and Settlement Systems Act, 2007, and apply to all entities involved in issuing and operating prepaid payment instruments.

Reserve Bank of India

RBI/DPSS/2021-22/82
CO.DPSS.POLC.No.S-479/02.14.006/2021-22

August 27, 2021

All Prepaid Payment Instrument Issuers (Banks and Non-banks) and System Participants

Madam / Dear Sir,

Master Directions on Prepaid Payment Instruments (PPIs)

This has reference to the Master Direction dated October 11, 2017 on Issuance and Operation of Prepaid Payment Instruments (PPI-MD) and subsequent amendments made thereto. Keeping in view the recent updates to PPI guidelines, it has been decided to issue the Master Directions afresh.

2. These Directions are issued under Section 18 read with Section 10(2) of the Payment and Settlement Systems Act, 2007.

Yours faithfully,

(P. Vasudevan)
Chief General Manager

Please refer to the attached file for details

FAQ :

The Reserve Bank of India has issued fresh Master Directions on Prepaid Payment Instruments (PPIs) to reflect recent updates in the guidelines.

The previous Master Direction on Issuance and Operation of Prepaid Payment Instruments (PPI-MD) was issued on October 11, 2017.

These directions are applicable to all Prepaid Payment Instrument Issuers, including banks and non-banks, as well as system participants.

These Directions are issued under Section 18 read with Section 10(2) of the Payment and Settlement Systems Act, 2007.

Notification No : RBI/DPSS/2021-22/82 CO.DPSS.POLC.No.S-479/02.14.006/2021-22
Source : https://rbidocs.rbi.org.in/rdocs/notification/PDFs/82MDPPIS2708202181CF0A6FCD1B47B88CAE8E92A228B160.PDF

Attached File : 322600_10689_82mdppis2708202181cf0a6fcd1b47b88cae8e92a228b160.pdf

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