Key Points
OLA Money said that it will entirely move to small PPI (prepaid payment instrument) wallet services with a maximum wallet load restriction of 10,000 per month..
This will begin from starting April 1, 2024, the company said, adding that users will have the choice to provide approval to continue wallet services by changing the full KYC to small PPI setting..
It added, In accordance with the change in internal policy at OFS, we are transitioning completely from Full KYC Ola Money Wallet to Small PPI with a maximum wallet load limit to 10,000/- per month effective from 1ST April, 2024..
What will happen to your full KYC Ola Money after April 1Read more: New tax rules come into effect from April 1: Here's all you need to know on basic exemption limit and rebate..
How to convert your wallet to small PPI KYC?Read more: Credit card rules to NPS: 5 money-related changes that will come into effect in April 2024..
