- The Payment companies associated with PPIs are mandated to enable PPI interoperability by March 2022 by RBI.
- Also, the limit for full-KYC PPI accounts will be from Rs 1 lakh to Rs 2 lakh. Therefore, due to this, the user of a PPI card or PPI e-wallet can double the amount they store on the pre-loaded payment instrument.
- PPI: PPIs are pre-loaded cards or digital wallets which are loaded with funds.
- Interoperability: It means that regardless of who issues the PPI card or e-wallet, customers will be able to use their PPI card or e-wallet at any payments acceptance point.
- Static Part:
- HQ of RBI: Mumbai
- 25th Governor of RBI: Shaktikanta Das
Question:
Q.1 The RBI has mandated pre-paid instrument (PPIs) operators to enable full interoperability to PPI cards and PPI e-wallets for those customers who have fulfilled the KYC norms by ____?
a. April 2022
b. Dec 2021
c. March 2022
d. June 2021
a. April 2022
b. Dec 2021
c. March 2022
d. June 2021