cryptohunter
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The Reserve Bank of India (RBI) has set rules for electronic money institutions that issue prepaid instruments (PPIs). These rules aim to control how PPI issuers operate and make sure transactions are secure.
If a company wantt to issue PPIs, they need permission from the RBI. The guidelines cover things like confirming the customer's identity, putting limits on transaction amounts, and deciding how long the PPI are valid. The companies also have to have a way to handle customer complaints.
The guideliines really emphasize the importance of stopping money laundering and terrorism financing. Electronic money institutions have to have strong policies and procedures to catch and prevent any suspicious transactions.
If a company wantt to issue PPIs, they need permission from the RBI. The guidelines cover things like confirming the customer's identity, putting limits on transaction amounts, and deciding how long the PPI are valid. The companies also have to have a way to handle customer complaints.
The guideliines really emphasize the importance of stopping money laundering and terrorism financing. Electronic money institutions have to have strong policies and procedures to catch and prevent any suspicious transactions.
