PPIs are instruments that facilitate the purchase of goods and services, including financial services, remittance facilities, etc., against the value stored on such instruments. The value stored on such instruments represents the value paid for by the holders by cash, by debit to a bank account, or by credit card.
The pre-paid instruments can be issued as smart cards, magnetic stripe cards, internet accounts, internet wallets, mobile accounts, mobile wallets, paper vouchers and any such instrument which can be used to access the pre-paid amount.
A company incorporated in India and registered under the Companies Act, 1956 / Companies Act, 2013, having a minimum paid-up capital of Rs. 5 crore and minimum positive net worth of Rs. 1 crore at all the times are permitted to issue PPIs in India.
PPIs can be reloadable or non-reloadable. The loading/reloading of PPIs shall be through payment instruments issued by entities regulated in India and shall be in Indian Rupees (INR) only. Banks are permitted to issue and reload such payment instruments at their branches and ATMs against payment by cash/debit to bank account/credit card and through their business correspondents (BCs). In the case of non-reloadable PPIs, the outstanding amount in it can be transferred to a new similar PPI of the same issuer, upon expiry.
Final Destination for Kerala PSC Notes and Tests, Exclusive coverage of KPSC Prelims and Mains Syllabus, Dedicated Staff and guidence for KPSC Kerala PSC Notes brings Prelims and Mains programs for Kerala PSC Prelims and Kerala PSC Mains Exam preparation. Various Programs initiated by Kerala PSC Notes are as follows:-
- Kerala PSC Mains Tests and Notes Program
- Kerala PSC Prelims Exam 2024- Test Series and Notes Program
- Kerala PSC Prelims and Mains Tests Series and Notes Program
- Kerala PSC Detailed Complete Prelims Notes