PPIs for Public Transport Payments

RBI recently permitted banks and non-banking institutions to issue pre-paid instruments (PPIs) for payments in public transport systems.

RBI grants permission for PPI issuance for payments in public transport.
Commuters gain alternative payment options beyond cash for tickets.
PPIs offer convenience, speed, affordability, and safety in digital payments for transit services.
Notification aims to improve payment accessibility and efficiency in public transport systems.
Move aligns with India's push towards digitalization and cashless transactions.