RBI BANS USE OF CELL PREPAID BALANCE FOR SHOPPING!

Follow Us

Reserve bank of India has banned use of mobile phone balances for shopping purposes.

According to RBI mobile prepaid card balances cannot be used as an option to currency other than to purchase mobile contents ringtones and talk time.If allowed it will impact the monetary policy.

RBI has also levied rigorous conditions on lunch coupons gift payment cards which are used in merchant outlets.

Reported By

A Happy Geek and a Network Research Engineer with a really cool day job…

Recent Comments

SUBSCRIBE TO OUR NEWSLETTER

Subscribe
Notify of
guest
1 Comment
newest
oldest most voted
Inline Feedbacks
View all comments