Banks permitted by the RBI to issue debit cards can issue PPIs after informing DPSS.
There are also new balance limits: general PPIs may hold up to ₹2 lakh, with monthly cash loads capped at ₹10,000; gift cards at ₹10,000; transit cards at ₹3,000.
NRIs and foreigners will need physical verification and face a ₹5 lakh monthly cap.
Overall, the changes aim to keep your money safer while making digital payments smoother.