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RBI issues draft master circular for revised PPI norms

RBI issues draft master circular for revised PPI norms

Monday, March 20, 2017, 9:58 PM

The Reserve Bank of India has asked all prepaid payment licence holders who mostly issue mobile wallets to convert their minimum KYC (Know Your Customer) wallet accounts into full KYC account by June 30 of this year. It has also laid out minimum net worth criteria for wallet issuers to Rs 25 crore from minimum paid up capital of Rs 5 crore earlier.
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