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KYC PPI
RBI's new draft guidelines have digital wallets feeling the pinchFounders and senior industry executives told ET that the new draft guidelines released by the RBI on April 22, if implemented in the curren...- RBI imposes penalty on IIFL FinanceThe Reserve Bank of India has fined IIFL Finance Rs 3.1 lakh for not returning surplus amounts from gold auctions to borrowers. Appnit Tech...
- RBI overhauls prepaid cards & wallets rules: Rs 2 lakh monthly debit limit, usage, restrictions, new safeguard and moreThe RBI has revised Prepaid Payment Instrument (PPI) rules, introducing new monthly debit limits for full-KYC PPIs at Rs 2,00,000, with a R...
- RBI proposes measures to strengthen Prepaid Payment Instruments frameworkThe Reserve Bank of India is introducing new rules for Prepaid Payment Instruments. These changes aim to boost the long-term growth of thes...
- RBI fines Pine Labs Rs 3.1 lakh for KYC lapses on prepaid payment instrumentsThe move follows a statutory inspection of the fintech’s operations conducted between July 2024 and May 2025. The RBI clarified that the ac...
- Sebi simplifies gifting of mutual funds. Here's what it means for investorsSebi has proposed a new Gift PPI framework that will allow investors to gift prepaid instruments that can be used exclusively to buy mutual...
- UPI rule change: Use any UPI app to pay from your wallet as RBI allows interoperability for full-KYC PPIRBI new rules for UPI payment : Now wallet holders will no longer have to depend upon the PPI wallet issuer in order to make UPI payments, ...
- RBI allows UPI access for prepaid payment instruments via third-party applicationsThe Reserve Bank of India has permitted the use of UPI for prepaid payment instruments via third-party applications. This move allows full-...
- OLA Money wallet will stop working from April 1, 2024 if you don't do this; check detailsOLA Money announced that its is entirely switching to small PPI (prepaid payment instrument) wallet services. OLA Money wallet will stop wo...
- RBI allows prepaid wallets, cards without KYC, to pay for rail, metro, bus, toll, parking; how it worksMetro, bus, train, waterways, tolls, and parking services can now be paid digitally through prepaid wallets and cards, thanks to RBI's appr...
- Card fintech company Slice receives prepaid pay licence from RBIFintech platform Slice to open minimum KYC PPI accounts for teens as it looks to widen its user base, say sources. The licence is also in l...
- Bank-led PPI issuers onboarding only full KYC users post RBI rapIn the absence of clarity on the applicability of these rules announced earlier this month, fintechs are engaging with partner banks and no...
- Soon withdraw cash from digital wallets, prepaid cards of non-bank entitiesPPIs stand for prepaid payment instruments. Forex cards, digital wallets etc are some examples of PPIs. The statement stated that the neces...
- 'Low KYC' norm to help mobile wallets retain their customersAn estimated over 200 million mobile wallets ran the risk of being cancelled by the regulators, once the deadline to upgrade their non-comp...
- You can make digital transactions but cannot transfer money using RBI's newly launched PPIUnlike the PPIs that are available now, the new instrument can only be used for making retail payments. You cannot use it to transfer funds...
- RBI to introduce new prepaid payment instrument for digital transactions up to Rs 10,000RBI proposed to introduce a new type of prepaid payment instruments (PPIs) which can be used only for the purchase of goods and services up...
- Relief for Mobile wallets: RBI gives cos time till February 28 next year to comply with KYC normsCompanies ran the risk of losing thousands of customers if they had failed to comply with the August 31 deadline.
- RBI increases time allowed for converting minimum KYC PPI into full KYC PPITo complete full KYC, you need requires an in-person verification with your PAN card and proof of address.
- How to complete full KYC for Paytm, Sodexo and other pre-paid instruments, e-walletsFollow these steps or log on to the PPI provider's website or app to complete the process.
- You will not lose money in mobile wallets: RBIFull KYC requires you to link your PPI account with your Aadhaar number. Some other important documents like residential proofs are needed ...
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