New Delhi: The Reserve Bank of India has issued new guidelines for credit cards. According to this policy, the card issuer cannot make such compromises or arrangements with the card network that prevent the use of other card network services. Explain that the card issuers provide the opportunity to select the eligible customers to select the multiple cards when issuing credit cards, and the Reserve Bank of India has said that the existing card holders can get this option on their next renewal.
RBI’s new objective
RBI aims to issue new guidelines, providing more options and flexibility to customers while issuing and use of credit cards. According to the central bank, some agreements between card networks and issuers limit customers’ options. RBI has given the following instructions for this:
1. Card issuers are prevented from entering in agreements that prevent them from taking advantage of services from many other card networks.
2. Card issuers should provide the option to like customers from many cards when the cards are issued.
3. In the case of existing card holders and customers, these options will be provided at the time of their next card renewal.
4. The American Express Banking Corp, Dinners Club International Limited, MasterCard Asia, M / s National Payments Corporation of India-Rupe and Visa Worldwide Private Limited have been defined as an authorized card network under RBI. Karthik Aryan with Trupti Dimri Aashiqui 3 will not fight in love, know what Mukesh Bhatt said
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