Date : Mar 30, 2017

RBI advisory on E-wallets

The Reserve Bank of India has today advised the users of Pre-paid Payment Instruments (PPIs), including mobile and electronic wallets, that only non-bank entities authorised by RBI under the Payment and Settlement Systems Act, 2007 (the Act) can issue PPI wallets for purchase of goods and services from third parties and money transfer within India. Only permitted banks can issue PPI wallets which in addition to purchase of goods and services from third parties and money transfer within India, can also be used for withdrawing cash. An updated list of entities is available on the Reserve Bank’s website. Public should access the RBI website for the list of such bank and non-bank entities issuing e-wallets and pre-paid cards.

Intermediaries, like aggregators and payment gateways, which facilitate payment services, though not authorised by Reserve Bank under the Act, are however required to route their transactions only through a nodal account opened with a bank under Reserve Bank’s guidelines of November 24, 2009.


Reserve Bank frames guidelines under the Payment and Settlement Systems Act, 2007 in respect of various payment systems, including issuance of Pre-paid Payment Instruments (PPIs). This advisory is being issued as the usage of digital payment options, including e-wallets is on the rise and public can make an informed choice.

Ajit Prasad
Assistant Adviser

Press Release : 2016-2017/2624

Related Circulars/Guidelines
July 01, 2016 Master Circular – Policy Guidelines on Issuance and Operation of Pre-paid Payment Instruments in India
November 24, 2009 Directions for opening and operation of Accounts and settlement of payments for electronic payment transactions involving intermediaries

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