Web16 sep. 2024 · Under the Full-KYC PPI route, the RBI has also made an express provision for the option of cash withdrawals at Point-of-Sale (PoS) devices as well as non-bank issued PPIs, and prescribed a ceiling of Rs. 2,000 per transaction within an overall monthly limit of Rs.10,000 per PPI across all channels. Web20 apr. 2024 · A new section (5A) has been added to chapter II of the MD on KYC requiring REs to carry out ‘Money Laundering (ML) and Terrorist Financing (TF) Risk Assessment’ … city of cedar rapids garbage pickup

Reserve Bank of India amends the

Web15 mei 2024 · Amendment to the Master Direction (MD) on KYC Please refer to the Master Direction (MD) on KYC dated February 25, 2016, as amended from time to time, in terms of which Regulated Entities (REs) have to undertake Customer Due Diligence (CDD) while dealing with the customers as per the process laid out therein. 2. Web1 sep. 2024 · The new Master Directions have also classified PPIs in three categories i.e. Closed-ended PPI, Small PPIs and Full-KYC PPIs. However, since closed-ended PPIs are not a part of the payment and settlement system, they are not regulated by the RBI. A brief snapshot of the nature of the other two types of PPIs is presented below: Basis. Small PPI. Web20 sep. 2024 · RBI under the MD PPI has mandated interoperability for all full-KYC PPIs, interoperability on the acceptance, and QR Codes in all modes shall be interoperable by 31 March 2024. don boscoplein torhout