Key Points
Mumbai, Feb 23 (PTI) Reserve Bank of India (RBI) on Friday permitted banks and non-banking institutions to issue pre-paid instruments for making payments across various public transport systems...
With the introduction of these instruments, commuters will have more options to pay for tickets besides cash mode...
The instruments will provide convenience, speed, affordability and safety of digital modes of payment to commuters for transit services, RBI said in a notification...
Welcoming the decision, fintech MobiKwiks Co-Founder and CEO Bipin Preet Singh said, this marks a pivotal moment in our journey towards modernising transit systems..
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