Team Blitz India
MUMBAI The Reserve Bank of India (RBI) on June 8 has decided to allow issuance of RuPay prepaid forex cards by banks in India for use at ATMs, PoS machines and online merchants overseas.
Additionally,Rupay debit, credit, and prepaid cards will be allowed to be issued in foreign countries and used globally, including in India. These actions will increase RuPay cards’ accessibility and acceptance throughout the world.
These announcements were made by the RBI Governor in his June 8, 2023 bi-monthly monetary policy review. “RuPay Debit and Credit cards issued by banks in India have gained international acceptance through bilateral arrangements with international partners and co-badging arrangements with international card schemes.
In order to expand payment options for Indians travelling abroad, it has been decided to allow issuance of RuPay Prepaid Forex cards by banks in India for use at ATMs, PoS machines and online merchants overseas.
