Notification/Circular No.: Press Release: 2026-2027/124 dated April 22, 2026
Act / Rule Name: Reserve Bank of India Act, 1935 & Payment and Settlement Systems Act, 2007
The Reserve Bank of India has been undertaking ongoing efforts to develop a conducive regulatory framework for the long-term growth of Prepaid Payment Instruments (PPIs) whilst enhancing the security of transactions. As part of this initiative, a comprehensive review of the existing PPI guidelines has been carried out.
RBI has released a draft Master Direction on Prepaid Payment Instruments (PPIs), 2026, consolidating and revising the regulatory framework governing PPIs. The draft Direction is open for public consultation. Regulated entities, members of the public, and other stakeholders may submit their comments and feedback on or before May 22, 2026, through the ‘Connect 2 Regulate‘ section on the RBI website, by following the hyperlink provided against the respective document.
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