There is a lot of untapped potential in the market for credit cards in the domestic market, say industry insiders and policymakers during a seminar to promote using cards and being part of a cashless society.
Card issuer banks will henceforth have to issue cards from more than one network provider and will have to provide an option to customers to choose any one among the multiple card networks, RBI said in a draft circular.
To significantly enhance the ease of making payments through unified payment interface (UPI) for investments in securities, the Reserve Bank of India (RBI) has decided to introduce single-block and multiple-debits functionality.
A video went viral on social media on Saturday which claims that devices like smartwatches are being used to swipe the FASTag on vehicles, leading to a fraudulent deduction of money from prepaid wallets.
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