As a part of its continued efforts to develop a conducive framework for long term growth of Prepaid Payment Instruments (PPIs) with enhanced security of transactions, a comprehensive review of guidelines on PPIs has been undertaken by the Reserve Bank. Accordingly, RBI today released the draft Master Direction on Prepaid Payment Instruments.

Comments / feedback on the draft Master Direction are invited from public by May 22, 2026.

Draft MD-PPIs, 2026