RBI allows banks to issue prepaid forex RuPay cards

RBI allows banks to issue prepaid forex RuPay cards

Daily Current Affairs   /   RBI allows banks to issue prepaid forex RuPay cards

Change Language English Hindi

Category : Business and economics Published on: June 12 2023

Share on facebook
  • Reserve Bank of India (RBI) has decided to allow Indian banks to issue RuPay prepaid forex cards. 
  • These cards can be used at ATMs, point of sale (PoS) machines, and online merchants overseas.
  • The move, announced during the RBI Monetary Policy Committee (MPC) meeting aims to increase the scope of accessibility and acceptance of RuPay cards worldwide. 
  • This decision also aligns with the RBI's Payments Vision Document 2025, which emphasises expanding the global outreach of RuPay cards and the Unified Payments Interface (UPI).
  • RuPay, as the first domestic card payment network in India, has achieved wide acceptance across various channels such as ATMs, point-of-sale (POS) devices, and e-commerce websites throughout the country.
Recent Post's

  • The Ministry of Ayush will organise the National Arogya Fair 2026 in Shegaon, Maharashtra, providing free consultations, check-ups, and medicines under traditional healthcare systems.

    Read More....

  • The NGT has directed Uttar Pradesh to restore Suav’s classification from a drain to a river, amend records, and monitor floodplains and water quality.

    Read More....

  • Goa will host the 4th World Ocean Science Congress 2026, focusing on ocean health, climate resilience, and the blue economy.

    Read More....

  • India has launched “Prahaar,” its first comprehensive counter-terrorism policy addressing cross-border, cyber, and emerging technology threats.

    Read More....

  • Netherlands will swear in 38-year-old Rob Jetten as its youngest and first openly gay prime minister.

    Read More....

  • India will observe Central Excise Day 2026 on 24 February to honour the enactment of the Central Excise Act, 1944.

    Read More....

  • The statue of Edwin Lutyens at Rashtrapati Bhavan will be replaced with that of C. Rajagopalachari.

    Read More....

  • Punjab has launched the ‘Meri Rasoi’ scheme to provide free food kits to nearly 40 lakh economically weaker families.

    Read More....

  • PhonePe introduces AI-powered natural language search for voice- and text-based transactions, enhancing convenience and personalization.

    Read More....

  • Switzerland will host the AI Summit 2027 in Geneva, providing a neutral hub for global AI discussions and cooperation.

    Read More....