RBI’s Major Step: Children Can Now Make UPI Payments Without Bank Accounts, Learn How

With digital payments becoming a daily necessity, the Reserve Bank of India (RBI) has granted approval to Junio Payments Pvt. Ltd. to issue a Prepaid Payment Instrument (PPI). Following this approval, Junio will launch a digital wallet that children and young individuals can use even without bank accounts, allowing them to make payments by scanning UPI QR codes. One of the key benefits is that it will teach children financial management from a young age. Parents can link their UPI accounts with their children’s wallets, enabling them to send money, set spending limits, and monitor transactions.