Exploring Master Direction on Prepaid Payment Instruments (PPIs), 2021 In the notice dated August 27, 2021, the Reserve Bank of India (RBI) issued Master Directions on Prepaid Payment Instruments (PPIs). The MD-PPIs regulations apply to all Prepaid Payment Instrument (PPI) Issuers and System Participants. PPIs are frequently issued by banks and non-bank entities after getting […]