Tuesday, July 19, 2016

GUIDELINES FOR ISSUANCE AND OPERATION OF PRE-PAID PAYMENT INSTRUMENTS IN INDIA INCLUDING GIFT CARDS AND PRE PAID CARDS

Guidelines for Issuance and Operation of Pre-paid Payment Instruments in India including Gift Cards and Pre Paid Cards


Reserve Bank of India has issued updated master circular on July 01, 2016 on Policy Guidelines on Issuance and Operation of Pre-paid Payment Instruments in India. The guidelines are applicable on issuance of pre paid cards e.g. law and procedure for issuance of gift cards, pre pard cards etc. requirement of obtaining RBI approval for issuance of pre paid cards, gift cards., who can issue gift cards, pre pard cards etc. what is the procedure of issuance of gift cards, pre pard cards etc. what are the compliances with respect to issue of gift cards, pre pard cards etc.