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. Both card issuers and card networks are expected to comply with the new requirements set forth by the RBI which will be effective from _______.
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.
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...Select the most appropriate direct form of the given sentence.
Anshul told me that his mother was not at home and that she would be back the fo...
Select the option which correctly converts the given sentence into direct speech.
The beggar entreated the lady to let him stay there for a while...
Select the most appropriate indirect form of the given sentence.
The teacher said to the parents, “Young children are very restless.”
Choose the option that is the indirect form of the sentence.
Jaya told me “I’ve been waiting for you since 4 pm.”
I am sure she will like you.
Sunaina said, “I went to the school yesterday”.
He said that there was around 2 million sq.km of degraded land across the world and it will be required for every individual to plant a sampling every y...
Choose the correct indirect/direct speech which best expresses the following sentence:- Mother told her son. "Why are you leaving the house early today?"
Change the following sentence to Indirect Speech.
The passenger asked the ticket collector, "Is this train running late?"