https://www.taxtmi.com/news?id=14751 A new category of semi-closed Prepaid Payment Instruments (PPIs) allows authorized mass transit system operators to issue reloadable PPIs that include Automated Fare Collection, are usable only within the transit system and allied on-premises merchants, require issuer-led merchant onboarding under standard due-diligence, carry minimum six months' validity, permit issuer-determined KYC, prohibit cash-out or refunds, exclude Domestic Money Transfer applicability, cap stored value at Rs. 2000, and remain subject to existing escrow, grievance redressal, reporting and MIS requirements. en-us Fri, 24 Jul 2015 17:50:02 +0530 Fri, 24 Jul 2015 17:50:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=14751 A new category of semi-closed Prepaid Payment Instruments (PPIs) allows authorized mass transit system operators to issue reloadable PPIs that include Automated Fare Collection, are usable only within the transit system and allied on-premises merchants, require issuer-led merchant onboarding under standard due-diligence, carry minimum six months' validity, permit issuer-determined KYC, prohibit cash-out or refunds, exclude Domestic Money Transfer applicability, cap stored value at Rs. 2000, and remain subject to existing escrow, grievance redressal, reporting and MIS requirements. News - Fri, 24 Jul 2015 17:50:02 +0530 https://www.taxtmi.com/news?id=14751