Wallet Players Push Back on RBI's Draft PPI Norms, Demand Parity With Banks on P2P
Payment companies have flagged concerns over RBI's draft PPI norms, opposing the Rs 25,000/month P2P cap and Rs 10,000 cash-load limit. Industry warns stricter rules without bank parity could drive customer exodus and force smaller wallet issuers to shut shop.
Payment companies have pushed back on RBI's draft PPI norms, opposing P2P wallet caps of Rs 25,000/month and Rs 10,000 cash-load limits, seeking parity with banks. Wallet players warn stricter rules could trigger customer exodus or force closures.
Why this matters
RBI's regulatory tightening on PPIs comes amid broader monetary policy recalibration, with the central bank also weighing CPI projection resets as fuel hikes pressure retail prices.
Retail-company signals steady at 1,184 in last 90 days, reflecting sustained sector activity.