The Economic Times

RBI overhauls prepaid cards & wallets rules: Rs 2 lakh monthly debit limit, usage, restrictions, new safeguard and more

The RBI has revised Prepaid Payment Instrument (PPI) rules, introducing new monthly debit limits for full-KYC PPIs at Rs 2,00,000, with a Rs 25,000 sublimit for person-to-person transfers. These changes, part of the Master Direction on PPIs, aim to enhance security and user protection across various PPI categories.