RBI has issued the Master Directions on Prepaid Payment Instruments (‘MD PPI’) recently to introduce significant changes to the existing legal regime pertaining to the usage and classification of PPIs and mandating its interoperability with other payment systems.
Audio Source: An article published on LKS website in September 2021 https://www.lakshmisri.com/insights/articles/prepaid-instruments-an-analysis-of-master-directions-issued-by-rbi/#
Author: Manan Chhabra, Sr. Associate (LKS)
Voice: Sahana Rajkumar, Principal Associate (LKS)
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