{"id":253476,"date":"2021-08-31T17:30:16","date_gmt":"2021-08-31T12:00:16","guid":{"rendered":"https:\/\/www.scconline.com\/blog\/?p=253476"},"modified":"2021-08-31T17:35:11","modified_gmt":"2021-08-31T12:05:11","slug":"rbi-has-releases-master-directions-on-prepaid-payment-instruments-2021","status":"publish","type":"post","link":"https:\/\/www.scconline.com\/blog\/post\/2021\/08\/31\/rbi-has-releases-master-directions-on-prepaid-payment-instruments-2021\/","title":{"rendered":"RBI releases Master Directions on Prepaid Payment Instruments, 2021"},"content":{"rendered":"

On August 27, 2021, the Reserve Bank of India (RBI) has issued the Reserve Bank of India Master Directions on Prepaid Payment Instruments, 2021 (MD-PPIs, 2021). The provisions of MD-PPIs shall apply to all Prepaid Payment Instrument (PPI) Issuers and System Participants. The purpose of the directions includes the following:<\/p>\n

 <\/p>\n

    \n
  1. To provide a framework for authorisation, regulation and supervision of entities issuing and operating PPIs in the country<\/li>\n
  2. To foster competition and encourage innovation in this segment in a prudent manner while taking into account safety and security of systems and transactions along with customer protection and convenience and<\/li>\n
  3. To provide for harmonisation and interoperability of PPIs.<\/li>\n<\/ol>\n

     <\/p>\n

    Access the RBI\u2019s Master Directions on PPI, 2021, HERE<\/a><\/p>\n

     <\/p>\n

    \n

    *Tanvi Singh, Editorial Assistant has reported this brief.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

    On August 27, 2021, the Reserve Bank of India (RBI) has issued the Reserve Bank of India Master Directions on Prepaid Payment <\/p>\n","protected":false},"author":8808,"featured_media":253309,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[4,1193],"tags":[],"class_list":["post-253476","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-legislationupdates","category-notifications"],"yoast_head":"\nRBI releases Master Directions on Prepaid Payment Instruments, 2021 | SCC Times<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.scconline.com\/blog\/post\/2021\/08\/31\/rbi-has-releases-master-directions-on-prepaid-payment-instruments-2021\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" 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24, 2017","format":false,"excerpt":"The Reserve Bank of India has placed on its website for public comments the Draft Circular on \u201cMaster Directions on Issuance and Operation of Pre-paid Payment Instruments (PPIs) in India\u201d. The comments\/suggestions\/feedback, if any, may be sent by post to the Chief General Manager\u2013In-Charge, Department of Payment and Settlement Systems,\u2026","rel":"","context":"In "Hot Off The Press"","block_context":{"text":"Hot Off The Press","link":"https:\/\/www.scconline.com\/blog\/post\/category\/news\/hot_off_the_press\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/02\/RBI-1.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/02\/RBI-1.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/02\/RBI-1.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/02\/RBI-1.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/02\/RBI-1.jpg?resize=1050%2C600&ssl=1 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