RBI finally allows withdrawal of 1,000 a day from PoS through prepaid cards

Back in 2009, RBI had permitted using cash withdrawals from PoS through debit cards to enhance customer convenience. On the same lines, RBI passed an announcement yesterday which allows users to withdraw cash up to INR 1,000 a day through bank regulated prepaid cards. This is of great significance as the prepaid card industry, players and its bodies like PCI (arm of IAMAI) have been ...

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