2019
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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18%
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32%
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27%
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22%
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Detailed explanation-1: -Debit card swipes on PoS terminals rise 27% in March 2019 as per RBI data.
Detailed explanation-2: -A POS or “Point of Sale” transaction is a purchase made with your Visa debit card and you are required to enter your PIN on a keypad. POS transactions post to your account immediately. On your statement, a POS transaction will show the amount and the address (and sometimes) the name of the merchant.
Detailed explanation-3: -As per RBI guidelines for enhanced security on card transactions, by default cards issued are enabled for Domestic usage at ATMs & POS only. International/online (e-commerce) usage & contactless usage functionality (in contactless cards) are disabled at the time of card issuance.
Detailed explanation-4: -In Tier III to VI centres, you can withdraw up to ₹2000 per day. The withdrawal limit is ₹1,000 per day per card at Tier I and II centres. The banks may also levy a charge for the transaction. However, according to the Reserve Bank of India (RBI), it must not exceed 1% of the total transaction amount.
Detailed explanation-5: -The India POS Terminals Market is expected to register a CAGR of 7.23% over the forecast period (2022-2027). As per the Reserve Bank of India (RBI) dataset, 61.69 lakh POS terminals were recorded as of May 2022.