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Raise net worth requirement of PPI issuances to Rs.25 crore: RBI

Raise net worth requirement of PPI issuances to Rs.25 crore: RBI

Tuesday, March 21, 2017, 9:58 AM

In a move that could significantly restrict the playing field in prepaid instruments (PPIs) or wallets space, the RBI issued a draft circular proposing that the net worth requirement of issuing entities be raised to Rs.25 crore from Rs.1 crore earlier.The draft has no reference to the paid-up capital requirement for such entities. At present, it stands at Rs.5 crore.
RBI
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