The Reserve Bank of India (RBI) governor Shaktikanta Das said the Rupay cards will be enabled for issuance in foreign jurisdictions so that they can be used internationally.
Das also said that banks would be allowed to issue RuPay prepaid forex cards for use at ATMs, PoS machines and online merchants.
"RuPay debit, credit and prepaid cards will be enabled for issuance in foreign jurisdictions, which can be used internationally, including in India, Das said while announcing the monetary policy.
The six-member Monetary Policy Committee (MPC) kept the policy repo rate unchanged at 6.5 percent in a unanimous decision and retained the withdrawal-of-accommodation stance.
“These measures will expand the reach and acceptance of RuPay cards globally. Necessary instructions will be issued separately," Das said.
The move was aimed at expanding the payment options for Indians travelling abroad, the Governor said.
The RuPay debit and credit cards issued by banks in India had gained international acceptance through bilateral arrangements with international partners and co-badging arrangements with international card schemes.
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