As a part of its continued efforts to develop a conducive framework for long term growth of Prepaid Payment Instruments (PPIs) with enhanced security of transactions, a comprehensive review of guidelines on PPIs has been undertaken by the Reserve Bank. Accordingly, RBI has released the draft Master Direction on Prepaid Payment Instruments. The comments / feedback on the draft Direction may be submitted by the regulated entities and members of public / other stakeholders on or before May 22, 2026.
RBI issues Draft Master Direction on Prepaid Payment Instruments
April 22, 2026 · 6:50 pm IST
Source: Business Standard
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Key Takeaways
- The comments / feedback on the draft Direction may be submitted by the regulated entities and members of public / other stakeholders on or before May 22, 2026.
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Originally reported by Business Standard.
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IPO Cracker Take
Monetary policy shifts ripple into IPO valuations through discount rates and liquidity. Use our IPO evaluation framework to factor rate changes into any upcoming issue.
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Higher rates increase the discount rate used in DCF valuations, typically compressing IPO valuations. Banking and NBFC IPOs benefit from rate cycles in different ways than tech or consumer.
Broader rate outlook matters, but each IPO should still be evaluated on its own financials. Our IPO evaluation framework walks through the key metrics.
Banking, NBFC, housing finance, and real estate are the most rate-sensitive. Consumer staples and utilities are relatively insulated.
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