CURRENT AFFAIRS

Detailed explanation-1: -Most of our Co-operative Bank debit and credit cards are eligible for Google Pay, with the exception of ATM cards and business credit or debit cards.

Detailed explanation-2: -Banks and Registered Non-Bank Financial Companies seeking to issue such instruments shall seek approval from the Department of Payment and Settlement Systems, Reserve Bank of India.

Detailed explanation-3: -25. Since no RBI authorisation is required to issue a closed e-wallet, paragraph 2.4 of the PPI Master Directions can be interpreted to mean that both banks and non-banks can issue closed e-wallets. 26.

Detailed explanation-4: -Eligible Cardholders UCBs are permitted to issue credit cards to their regular members and nominal members only, but not to non-members. The card issuing banks would be solely responsible for fulfillment of all KYC requirements.