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RBI drafts new rules for prepaid payments to tighten security and refunds
Economy
Published on 24 April 2026
Refunds and grievances may get clearer timelines soon
The Reserve Bank of India has released a draft proposal to strengthen the Prepaid Payment Instruments framework, aiming to support long-term growth. The plan focuses on enhanced transaction security, and more explicit guidelines for refunds and handling customer grievances. The RBI will consider public feedback until May 22, 2026, before finalizing the changes.
- RBI has issued a draft for Prepaid Payment Instruments changes
- Enhanced transaction security is a core proposal
- Refund and customer grievance guidelines are expected to be clearer
- Public comments are open until May 22, 2026
Read the full story at The Economic Times
This summarization was done by Beige for a story published on 
The Economic Times