New Delhi, April 5: Industry experts on Friday welcomed the move by the Reserve Bank of India (RBI) to permit the use of third-party UPI apps for making digital payments from prepaid payment instruments (PPI) wallets.

PPIs can come in the form of payment wallets, smart cards, magnetic chips, vouchers and mobile wallets, etc. At the moment, UPI payments from PPI can only be through the web or mobile app provided by the PPI issuer. Shivaji Thapliyal, Head of Research and Lead Analyst, Yes Securities, said that at the moment, the wallet market had been thrown wide open due to the RBI슬롯사이트™s diktat on Paytm Payments Bank.슬롯 머신 사이트 추천RBI Repo Rate Update: Monetary Policy Committee Keeps Repo Rate Unchanged at 6.5%, Announces Governor Shaktikanta Das (Watch Video).

슬롯사이트œThe new guideline, in a sense, serves to make PPI wallets somewhat inter-operable and democratises the wallet market to that extent,슬롯사이트� said Thapliyal. In FY23, Paytm Wallet had a gross merchandise value (GMV) of $19.1 billion, with Mobikwik being a distant second with $1.01 billion GMV. 슬롯사이트œIt would be interesting to see what scenarios could emerge if third party UPI apps, which would include Paytm, would be able to access other PPI wallets,슬롯사이트� Thapliyal noted.

With the RBI슬롯사이트™s move, the PPI wallet holders will not have to be completely dependent on the issuer of the PPI wallet. It would, thus, enhance customer convenience and boost adoption of digital payments for small value transactions. Furthermore, the RBI's decision to keep the repo rate unchanged at 6.5 per cent aligns with expectations, said Shishir Baijal, Chairman and Managing Director, Knight Frank India.

슬롯사이트œIt provides added support to consumers, ensuring economic growth remains robust. Furthermore, the RBI Governor's optimism is bolstered by the resilience in domestic macro fundamentals,슬롯사이트� he said. Sanjay Agarwal, Founder, MD and CEO, AU Small Finance Bank, said the RBI슬롯사이트™s maintenance of status quo on the repo rate and the policy stance marked by 슬롯사이트˜withdrawal of accommodation슬롯사이트� is a 슬롯사이트œprudent decision amid increasing geopolitical uncertainties and any adverse climate impact슬롯사이트�.슬롯 머신 사이트 추천India GDP Growth Forecast: Indian Economy to Grow at 7%, Retail Inflation at 4.5% for 2024-25, Projects RBI Governor Shaktikanta Das (Watch Video).

Dilip Modi, Founder, Spice Money, said that this move will not only simplify the payment process for PPI users but also open up a plethora of digital payment opportunities previously inaccessible to them, "further enhancing customer convenience and boosting the adoption of digital payments, especially among small businesses".

(The above story first appeared on LatestLY on Apr 05, 2024 02:11 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).