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RBI takes credit for curbing PPI financing

On June 20, 2022, the Reserve Bank of India (RBI) issued directions to all non-bank prepaid payment instrument (PPI) issuers that loading of PPIs through credit lines was not permitted (PPI credit circular). This clarification was aimed at the several PPI credit-linked products offered by PPI issuers in partnership with banks and non-bank financial companies […]

Contributed by Shardul Amarchand Mangaldas & Co

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Cyril Amarchand Mangaldas

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JSA

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Shardul Amarchand Mangaldas & Co

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