Timeline to add Rs 20,000 to e-wallets extended

MUMBAI: The RBI has extended the timeline to load Rs 20,000 in mobile wallets till it completes reviewing the guidelines for pre-paid payment instruments (PPIs).

“Considering that the bank is undertaking a comprehensive review of the guidelines and framework for prepaid payment instruments issuance in the country, it has been decided to extend the measures notified till the completion of review of the PPI guidelines,” the regulator said.

On November 22, RBI doubled the balance that can be kept in e-wallets and cards to Rs 20,000. It also said merchants can transfer up to Rs 0,000 per month from semi-closed PPIs to their bank accounts.