Issuance of rupee denominated co-branded pre-paid cards

It has now been decided to grant general permission to banks to issue rupee denominated co-branded pre-paid cards in India, subject to the terms and conditions.
Banks, which have been granted specific approvals for issue of rupee denominated co-branded pre-paid cards in the past, are advised to ensure that the co-branding arrangement is in conformity with the instructions mentioned above. In case, the co-branding arrangement is between two banks, the card issuing bank may ensure compliance with the conditions.

To view the full text of the notification, please follow the link

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