India: Stricter norms for e-wallets likely soon

India: Stricter norms for e-wallets likely soon

A Sadhu or a Hindu holy man pays the vendor through Paytm, a digital wallet company, after buying a book during the annual religious festival of Magh Mela in Allahabad, India, January 26, 2017. REUTERS/Jitendra Prakash

When the Reserve Bank of India (RBI) issued draft master directions on issuance and operation of prepaid payment instruments, the underlying theme was security and customer protection. If these draft guidelines turn into reality, here is what it would mean for your e-wallet and gift cards.

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