News & Media 10th Feb 2022
The Reserve Bank of India (RBI) has enhanced the maximum amount of e-RUPI prepaid digital vouchers from Rs. 10,000 currently to Rs. 1 lakh. It was announced that the e-RUPI voucher can be used more than once until the amount is fully redeemed. Against this backdrop, Yogesh Pirthani, Partner at Economic Laws Practice (ELP) has been quoted in LiveMint in their article titled ‘e-RUPI voucher limit hiked. What is this prepaid card and how to use it?’
Yogesh says, “Earlier consumers had to use the voucher in one go which meant that they had to wait till the time there is a payment instance up to the full amount of the voucher. This would deter consumers from accepting the voucher. Now the voucher can be used more than once and the limit is also enhanced. This will definitely lead to wider acceptance of vouchers and aid the government’s objective of financial inclusion.”