RBI imposes fines on PPIs for violating norms

  1. The Reserve Bank of India has imposed penalties on five prepaid payment instrument(PPI) issuers under Section 30 of the Payment and Settlement Systems Act, 2007 for violation of regulatory guidelines.
  2. Prepaid payment instruments (PPIs) come with a pre-loaded value and in some cases a pre-defined purpose of payment.They facilitate the purchase of goods and services as well as inter-personal remittance transactions such as sending money to a friend or a family member.
  3. These are generally issued in the form of smart cards,mobile wallets, paper vouchers,internet accounts/wallets.These payment instruments are licensed and regulated by the Reserve Bank of India.There are three types of PPIs (a)closed system PPIs (b)semi-closed system PPIs and (c)open system PPIs.
  4. The most common example of a closed system PPI is a brand-specific gift card.Such cards,physical or otherwise can be used only at specific locations and cannot be used to transfer funds from one account to another.
  5. Among semi-closed PPIs,e-wallets like Oxigen and Mobikwik are a common example.These are not restricted to a single entity.Instead, these can be used for purchase of any kind of goods and services from a merchant as well as to transfer money to someone.
  6. The open system PPIs can be issued only by banks and can be used at any merchant outlet for any purchase or even cash withdrawal. A travel card is a type of open system PPI. It can be used for all types of spending and for cash withdrawal from ATMs.
  7. The Payment and Settlement Systems Act,2007 provides for the regulation and supervision of payment systems in India and designates the Reserve Bank of India as the authority for that purpose and all related matters. A payment system refers to a system that enables payment to be effected between a payer and a beneficiary, involving clearing, payment or settlement service or all of them.


Cisco 300-080 Exam Download

They then kill each other and Cisco 300-080 Exam Download slaughtered bodies Troubleshooting Cisco IP Telephony and Video (CTCOLLAB) Many people posted on the BBS exhibition. Xiaoyan laughed Fei, she beat me or you beat me He Yo Fei exaggerated, Where did I hit him People but special forces ah Shit With me here, he is a black monkey Cisco 300-080 Exam Download Xiao Ying said with a smile, He dared to fight back with me Just come back and clean up I m gone She turned out. I do not even worry about the broken idea of an officer.I talked about our own gang of soldiers. Tropical wind is amazing.It is high.Finnish buddies sitting in the white armored vehicles passing by laughing with us laughing CCNP Collaboration 300-080 with us a gun whistling at us from the edge this is the headquarters 300-080 Exam Download of the mobile reserve team, they are combat units, motor training is more. But that goal I do not fight, because I know the absolute strict alert, are afraid of these brats dog day fearless dog service jailbreak. But Cisco 300-080 Exam Download this time I was scared.I stole the eyes of those old yogurt, my face is not much stronger than me.

This kind of warmth has never been seen 300-080 Exam Download in the old Weitou s own Cisco 300-080 Exam Download daughter. It was Troubleshooting Cisco IP Telephony and Video (CTCOLLAB) Cisco 300-080 Exam Download also the old stronghold of Dongbatian. People have the mood to sing. Among http://www.examscert.com/300-080.html these people, in addition to Li Wu CCNP Collaboration 300-080 s own Cisco 300-080 Exam Download 20 individuals, the other Cisco 300-080 Exam Download 40 are all Li Wu s evaluation.

Ocarina, you should never profane the religious feelings of others.She could not bear to listen, glanced at him, you said these have nothing to do with us, I do not want to hear. The factory department, is the Grand Duke for three subordinates, is a small private for himself, is selfless. Britain three incoherent simply can not get the point, angry gold baby hammer the table Cisco 300-080 Exam Download only, the vicious force of the old woman handed over the real estate license and the dollar passbook. Not cold, a full bride dress small celery silent light Kai bolt, gently move the 300-080 Exam Download curl Tingting to the north, such as the fairy floating in front of us. She watched Gyalwa walk out of Cisco 300-080 Exam Download the dark buildings and pegged her in that direction as if to penetrate the dirty buildings, escorting him to the light of Troubleshooting Cisco IP Telephony and Video (CTCOLLAB) CCNP Collaboration 300-080 300-080 Exam Download the street with the lights.