For which bank, the Reserve Bank of India allows mobile wallet? – InterviewSolution

InterviewSolution

1.	For which bank, the Reserve Bank of India allows mobile wallet?
Answer» Reserve Bank of India decided to permit all licensed cooperative banks having their own ATM network to issue semi-closed prepaid payment instruments (PPI)s like mobile wallets. This enlists strict norms and conditions to be followed by cooperative banks before permitting them to issue wallets for utility bill payments and other activities up to a limit of Rs 10,000.

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