RBI exploring options to ensure customer safety dealing with PPIs issued by non-bank entities

Earlier this week, RBI issued an advisory clarifying that non-bank prepaid payment instrument (PPI) issuers cannot load their wallets and cards from credit lines or preset borrowing limits. Such practice, if followed, should be stopped immediately and any non-compliance will attract penal action, the advisory said. https://ift.tt/eAQMKwn