RBI guidelines: The Reserve Bank of India on Wednesday issued new guidelines aimed at providing more options and flexibility for credit card customers. The central bank said card issuers must allow provide an option to their eligible customers to choose from multiple card networks at the time of issue. “On a review, it is observed that some arrangements existing between …
The story so far: On July 5, apex banking regulator Reserve Bank of India floated a draft circular seeking comments from stakeholders about mandating that card issuers provide their customers with the choice of multiple card networks. The regulator has also proposed that cards be issued across more than one network, with issuers not enteringinto any arrangement or agreement with …
Developments relating to our personal finances occur on a regular basis from month to month and must be followed. The above guidelines shall be implemented latest by September 30, 2022.” Master Direction provisions for credit and debit card On June 21, 2022 RBI extended the timeline for implementation of certain provisions of Master Direction – Credit Card and Debit Card …
