The Reserve Bank of India (RBI) has announced a proposal to allow banks and non-bank entities to issue prepaid payment instruments (PPIs) to foreign nationals and non-resident Indians (NRIs) visiting India. These PPIs will be issued in Indian Rupees and will be fully compliant with Know Your Customer (KYC) regulations. The initiative aims to facilitate digital payments for travelers and promote the use of the Unified Payments Interface (UPI) in the country. Initially, the facility will be available for G20 travelers at select international airports. The PPIs will be linked to UPI and can only be used for merchant payments, meaning users will not be able to transfer funds to individuals. The wallets can be loaded with foreign exchange through cash or other approved payment methods, with conversion to Indian Rupees managed by entities authorized under the Foreign Exchange Management Act (FEMA). Any unutilized funds in these wallets can either be encashed in foreign currency or transferred back to the original source, adhering to foreign exchange regulations.