Economics · Prepaid Payment Instruments Regulations
Based on the regulatory requirements for issuing Prepaid Payment Instruments (PPIs) set by the Reserve Bank of India, which of the following statements is/are correct? 1. Non-bank entities can issue PPIs after obtaining authorization, provided they attain a minimum net worth of ₹15 crore by the end of the third financial year of authorization. 2. For general-purpose PPIs, the outstanding amount should not exceed ₹3 lakh at any point, with cash loading limited to ₹20,000 per month. 3. Specific balance limits mandate that Gift PPIs are capped at ₹10,000, whereas Transit PPIs are capped at ₹3,000. Which of the statements given above is/are correct?
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