can issue prepaid payment instruments to commuters of
transit services
after its
approval
. Under the amended regulation, both banks and non-banks can issue rupee-denominated
prepaid instruments
that have a built-in automated fare collection application related to transit services, toll and parking. Sources said the norms apply mainly to National Common Mobility Cards.
TIll now, banks have been the primary issuers of these cards in partnership with transit authorities.
We invite you to explore our website, engage with our content, and become part of our community. Thank you for trusting us as your go-to destination for news that matters.
Certain articles, images, or other media on this website may be sourced from external contributors, agencies, or organizations. In such cases, we make every effort to provide proper attribution, acknowledging the original source of the content.
If you believe that your copyrighted work has been used on our site in a way that constitutes copyright infringement, please contact us promptly. We are committed to addressing and rectifying any such instances
English (US) ·