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Money kept in various cash wallets can be withdrawn from ATM and PoS terminals soon

Money kept in various cash wallets can be withdrawn from ATM and PoS terminals soon

  • The Reserve Bank of India announced this decision after a meeting of the Monetary Policy Committee's Meeting. 
  • At present Reserve Bank of India has permitted 35 prepaid payments instruments i.e. PPI. 
  • It includes Delhi Metro Card, Amazon Pay, Phonepe, Ola Money, Mobikwick wallet etc. 
  • Money can be loaded in these wallets, it can be transferred to another wallet or bank account or it can be used to make payment during online transactions.