Policy Guidelines for issuance and operation of Prepaid Payment Instruments in India - ਆਰਬੀਆਈ - Reserve Bank of India
Policy Guidelines for issuance and operation of Prepaid Payment Instruments in India
RBI/2011-12/144 August 04, 2011 To Dear Sir, Policy Guidelines for issuance and operation of Prepaid Payment Instruments in India. A reference is invited to our circular RBI/2010-11/261DPSS.CO.No. 1041/02.14.006/2010-2011 dated November 04, 2010, containing the guidelines for enabling additional category of prepaid payment instruments that could be issued by banks/NBFCs and non-banks. 2. It is advised that it has been decided to permit banks to issue prepaid payment instruments to corporates for onward issuance to their employees, subject to the following conditions:-
3. This directive is issued under section 18, of the Payment and Settlement Systems Act 2007, (Act 51 of 2007). 4. Please acknowledge receipt. Yours faithfully Vijay Chugh |