RBI proposes special prepaid wallets for transit, gifting, foreign visitors
NewsBytes | April 23, 2026 2:39 AM CST
RBI draft outlines PPI types, rules
The draft proposes full-KYC and small PPIs as general-purpose wallets, alongside special-purpose PPIs.
Special versions include Gift PPIs (₹10,000 limit, valid for one year) and Transit PPIs (no KYC needed, never expire).
Foreign nationals or NRIs could get wallets with up to ₹5 lakh.
Plus, nonbank wallet providers will need to meet stricter rules, and all terms and fees must be clearly shared with users.
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