RBI Approves Convenient Cards for Nationwide Travel Soon

The Reserve Bank of India (RBI) has given the green light to banks and other licensed companies to issue special cards that you can use for paying on buses, trains, metros, and even for parking. These cards are called prepaid payment instruments for mass transport systems (PPI-MTS).

Here’s what you need to know:

1. Banks and certain companies can give out these cards.
2. These cards work for paying fares on public transport and for parking fees.
3. You can use them on buses, trains, metros, and even waterways.
4. You don’t need to go through any extra verification process to get one.
5. You can reload money onto these cards whenever you need to.
6. You can only keep up to INR 3,000 on the card at any one time.
7. These cards don’t expire, so you can keep using them.
8. You can’t take cash out or transfer money with these cards; they’re just for paying for transport and parking.