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The Reserve Bank of India (RBI) has issued a draft circular addressing the arrangements between card networks and card issuers when it comes to the issuance of debit, credit, and prepaid cards. The circular aims to enhance customer choice and ensure a competitive market for card networks. When a card is issued to a customer, the choice of the affiliated network is determined by the card issuer. This selection is based on the previous arrangements established between the card issuer and the card networks through bilateral agreements. Therefore, the RBI has exercised its powers under the Payment and Settlement Systems Act, 2007, to introduce the following measures for card issuers to adhere to: · Restriction-free arrangements o Card issuers are prohibited from entering into any agreements that restrain them from availing the services of other card networks. o Card issuers must issue cards across more than one card network, providing customers with a wider range of options so that they can choose a network that best suits them. · Customer Choice o Card issuers must offer eligible customers the freedom to select any one card network from multiple options. This choice can be made at the time of card issuance or at a later stage, depending on the customer needs. o Both card issuers and card networks are expected to comply with the new requirements set forth by the RBI which will be effective from October 1, 2023.
Which one of the following is aerobic asymbiotic N₂-fixing bacteria?
The areas suffering from non-availability of ground water due to over exploitation are popular referred to as which of the following?
Given below are two statements one assertion and other reason:
Assertion : Intercropping has greater radiation capture potential and utilization....
Number of stamens in green gram is:
Under high light levels and high temperature, which type of plant will perform photosynthesis quicker and more effectively?
Which one of the following techniques is used to monitor crop health?
Micro water shed has an area of
The strategy of using as many out lets as possible is called
Which of following fungi is not used as a bio-control agent of plant diseases?
Which one the following is measured by Pyranometer?
