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Mobile Wallet users will now be able to do this work, RBI issued guidelines

Mobile Wallet users will now be able to do this work, RBI issued guidelines

RBI is going to introduce new guidelines for mobile wallet. In the new guidelines, RBI Wallet can approve interoperability to protect users from wrong transactions. Users need to make KYC.

> Customers can transfer money from different companies and banks via UPI.
> The transfer of money from one app e-wallet to another e-wallet is currently in the same e-wallet which is connected to the UPI of the government.
> Only KYC can transfer up to 10 thousand rupees only.
> If the user completes the KYC during the 12 months, he will be able to transfer up to one lakh rupees.
> According to the World Payments Report 2017, the pace of digital payments in Asia was due to this because China and India have always tried to provide digital services to everyone.
> In the next few years, due to better connectivity and higher smartphone users, China is expected to grow faster in China than in India.

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