December 27, 2016
All Prepaid Payment Instrument Issuers,
System Providers, System Participants and
all other Prospective Prepaid Payment Instrument Issuers
Dear Madam / Sir,
Master Circular on Issuance and Operations of Prepaid Payment Instruments – Amendments to paragraph 7.9
A reference is invited to paragraph 7.9 of our Master circular DPSS.PD.CO.PPI.No.01/02.14.006/2016-17 dated July 01, 2016 on Issuance and Operations of Prepaid Payment Instrument (PPIs) in India.
2. In order to facilitate greater adoption of digital payments, the instructions contained in paragraph 7.9 of the above circular have been partially modified as under:
3. The above changes shall come into effect from the date of this circular.
4. The directive is issued under Section 10(2) read with Section 18 of Payment and Settlement Systems Act, 2007 (Act 51 of 2007).
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