The RBI has approved the use of digital payments for public transportation by allowing authorized PPI issuers to issue prepaid cards and wallets for commuters to use across various modes of transport.
This decision aims to provide convenience, speed, affordability, and safety in digital payment options for transit services. Previously, the RBI required issuers to obtain permission before introducing mass-transit payment instruments.
The PPIs for public transport will have a limit of up to ₹3,000, as per RBI regulations. This move is seen as a step towards modernizing transit systems and improving the overall transportation experience for commuters.
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