RBI extends deadline for implementation of provisions concerning credit, debit card issuance
For these provisions, the timeline has been extended by three months from July 1, 2022, to October 1, 2022.
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For these provisions, the timeline has been extended by three months from July 1, 2022, to October 1, 2022.
The Reserve Bank of India (RBI) on Tuesday granted three months extension to banks and non-banking financial companies (NBFCs) to comply with certain provisions related to issuing credit and debit cards, including activation of cards without customers' consent.
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NBFCs registered with the RBI can issue credit cards to potential users upon receiving a prior approval from the RBI, the central bank said.