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FULL KYC PPIS
Top-level rejig hits mid-cap ITs; Fintechs wary of RBI wallet rulesHappy Thursday! Mid-sized IT firms are realigning leadership teams as AI-driven changes force a rethink. This and more in today's ETtech Mo...- Why India cannot build a world-class fintech champ yetIndia boasts world-class digital finance but lacks global consumer fintechs. Regulatory hurdles prevent innovation, unlike in markets with ...
- 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...
- 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-...
- 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...
- RBI makes mobile wallet interoperability mandatory from FY23Additionally, mobile wallets such as Paytm, PhonePe and Mobikwik can now be used for cash withdrawals up to Rs 2,000. The wallet limit has ...
- Fintech firms will soon process NEFT, RTGS paymentsRBI also proposes making all mobile wallets compatible and letting users withdraw cash at ATMs using them
- Decoding RBI's new digital payments moves and their impact on fintech ecosystemThe central bank governor Shaktikanta Das in his Monetary Policy Committee (MPC) address said that fintech companies such as prepaid instru...
- RBI to mandate interoperability among prepaid payments instruments: Shaktikanta DasGovernor Shaktikanta Das on Wednesday said prepaid payments instruments (PPIs) were given the option to become interoperable, wherein custo...
- Soon you can transfer money between digital wallets, prepaid cards beyond UPIOnce the RBI’s interoperability proposal is put in place, then you can transfer money across different wallets. Say a Paytm user can transf...
- 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...
- 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.
- 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 ...
- New RBI plan could bring bad news for m-wallets like Paytm and MobikwikFull KYC even for small-ticket transactions will be a big deterrent to use of these m-wallets, as it will increase customer acquisition cos...
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