SEBI has proposed the introduction of Gift Card/ Gift Prepaid Payment Instruments (Gift PPI) for investing in mutual funds. A purchaser can buy a Gift PPI through banking channels and transfer it to a recipient, who can redeem it for mutual fund subscriptions via an Asset Management Company (AMC). Existing SEBI and RBI regulations governing e-wallets and PPIs will apply, including limits, KYC requirements, and restrictions on incentives. Additional safeguards include funding only through bank transfer or UPI, mandatory ownership validation, adherence to Rs 50,000 annual investment limits, and use of the full PPI value for subscription.