The Reserve Bank of India (RBI) on Thursday announced the introduction of a new type of prepaid payment instrument (PPI). With the help of this card, you can buy goods and services up to 10 thousand rupees. The purpose of launching this card by the Reserve Bank is to accelerate the digital economy. This card can be used for bill payments and merchant purchases. More information in this regard will be made available by the central bank by 31 December 2019. For information, let us tell you that PPI card can be recharged from a bank account.

Can recharge with debit card

This card can be recharged up to a maximum of 50 thousand rupees in a month. There are many ways to recharge, for example, you can recharge it by depositing cash in the bank or it can also be recharged with the help of debit card. Apart from this, you can also recharge with credit card balance or can be recharged with the help of other PPI cards. According to the information received from the sources, it is being told that today was the fifth bi-monthly monetary policy review meeting of the RBI, there has been no change in the repo rate in the meeting. It remains at 5.15 percent. The central bank has changed the repo rate five times so far this year. Overall, the repo rate has been reduced by 135 basis points so far.

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