RBI exploring options to ensure customer safety dealing with PPIs issued by non-bank entities
Earlier this week, RBI issued an advisory clarifying that non-bank prepaid payment instrument (PPI) issuers cannot load their wallets and cards from credit lines or preset borrowing limits. Such practice, if followed, should be stopped immediately and any non-compliance will attract penal action, the advisory said.
Parameswaran Iyer has been appointed as the chief executive officer (CEO) of NITI Aayog, according to a government notification. He was a former drinking water and sanitation secretary. He had resigned from the post in July last year.
Rupee settles at all-time low of 78.33 against US dollar
The rupee on Friday slipped 1 paisa to close at its all-time low of 78.33 (provisional) against the US dollar. At the interbank foreign exchange market, the local currency opened at 78.20 and finally settled at its all-time low of 78.33, down 1 paisa from its previous close.
Most large merchants comply with card tokenisation as deadline nears
Most of the large merchants have complied with the RBI's card-on-file (CoF) tokenisation norms and 19.5 crore tokens have been issued so far, sources said. The RBI had directed the merchants to implement its tokenisation norms by June 30, 2022. The central bank has twice extended the deadline of its implementation in the past.