CURRENT AFFAIRS

Detailed explanation-1: -After October 1, 2022, the card issuer will not increase the credit limit without the cardholder’s written consent. “The terms and conditions for payment of credit card dues, including the minimum amount due, shall be stipulated so as to ensure there is no negative amortization.

Detailed explanation-2: -The Kisan Credit Card (KCC) scheme was introduced in 1998 for issue of Kisan Credit Cards to farmers on the basis of their holdings for uniform adoption by the banks so that farmers may use them to readily purchase agriculture inputs such as seeds, fertilizers, pesticides etc. and draw cash for their production needs.

Detailed explanation-3: -The co-branded cards are aimed at fans of Tata brands, offering maximum benefits to users of the Tata Neu app for shopping. In March 2022, the Reserve Bank of India (RBI) lifted the ban it had imposed on HDFC Bank from launching new credit cards. Since then, the bank is adding new cards to its portfolio.

Detailed explanation-4: -RuPay is an Indian domestic card scheme conceived and launched by National Payments Corporation of India (NPCI).