Question
Scheduled Commercial Banks (SCBs) are permitted to
undertake credit card business either independently or in tie-up arrangement with other card-issuing banks/NBFCs with the approval of their Boards and are required to hold how much net worth in order to undertake the business?Solution
Scheduled Commercial Banks (SCBs) are permitted to undertake credit card business either independently or in tie-up arrangement with other card-issuing banks/NBFCs with the approval of their Boards and are required to hold net worth of Rs 100 crores in order to undertake the business
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