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3 months ago
BRIEF-RBI to permit licenced co-operative banks with own ATM network to issue semi-closed PPIs
May 25, 2017 / 11:39 AM / 3 months ago

BRIEF-RBI to permit licenced co-operative banks with own ATM network to issue semi-closed PPIs

May 25 (Reuters) - Reserve Bank of India:

* Regulatory requirements for issue of pre-paid payment instruments by co-operative banks

* Also been decided to permit co-operative banks satisfying the criteria to issue open system PPIs

* To permit licenced co-operative banks with own ATM network to issue semi-closed PPIs, provided no restrictions on acceptance or repayment of deposits Source text - (bit.ly/2qZHBbS)

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