Banks to issue Rupay prepaid forex cards: RBI

Chennai, June 8 The Reserve Bank of India's (RBI) Monetary Policy Committee (MPC) has decided to permit banks to issue Rupay prepaid foreign exchange (forex) cards for Ind travelling abroad, said RBI Governor Shaktikanta Das.

The decision is part of the internationalisation of the Rupay card.

Announcing the decision of the MPC that met for three days from June 6 - 8, Das said the Rupay debit and credit cards are gaining increased acceptance abroad.

He said the banks are now permitted to issue Rupay prepaid forex cards for Ind travelling abroad.

Das said the Rupay prepaid forex cards will expand the payment options for Ind going abroad.