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RBI warns against using prepaid payment instruments from unauthorised entities

The Reserve Bank of India (RBI) referred to Gurgaon-based TalkCharge Technologies Pvt. Ltd. (entity), issuing PPIs (Wallets) through its website and app (application) ‘TalkCharge’ without obtaining the required authorisation. The entity was issued directions dated April 02, 2024 to stop issuance and operation of its PPIs or Wallets and refund the balances held in the wallets within 15 days (which was later extended to May 17, 2024), RBI said.