The Reserve Bank of India has extended the time for receipt of comments/ suggestions/ feedback on draft Master Directions on issuance and operation of pre-paid payment instruments (PPIs) in India till April 15, 2017. The feedback, if any, may be sent by post to the Chief General Manager – in - charge, Department of Payment and Settlement Systems, Reserve Bank of India, Central Office, 14th Floor, Shahid Bhagat Singh Marg, Mumbai-400 001, or by email.

Earlier, the Bank had placed on its website for public comments the draft “Master Directions on Issuance and Operation of Pre-paid Payment Instruments (PPIs) in India” on March 20, 2017. The comments/ suggestions/ feedback were to be sent to the Bank on or before March 31, 2017.

As indicated in the Press Release dated September 02, 2016, the receipt of fresh applications from banks and non-banks for grant of authorisation to operate a payment system for PPI under Payment and Settlement Systems Act, 2007 was suspended till February 28, 2017 and subsequently to April 30, 2017 vide our Press Release dated March 20, 2017. It has now been decided to extend the date till release of final guidelines.

Ajit Prasad
Assistant Adviser

Press Release : 2016-2017/2625