New Delhi / Mumbai, 05 December : Reverse Bank of India (RBI) announced on Thursday the launch of a new type of prepaid payment document instrument (PPI) card. With the help of this card, consumers can avail goods and services up to Rs 10,000.
The statement issued by the Reserve Bank of India stated that the purpose of launching this card is to accelerate the digital economy. This RBI card can be used for bill payments and merchant purchases.
However, detailed information in this regard will be made available by the Reserve Bank by December 31 2019. It is noteworthy that PPI card can be recharged from a bank account.