CURRENT AFFAIRS

2021

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

RBI has extended the timeline for processing recurring online transactions. What is the new timeline to adhere to the rules?

A	December 31
B	April 30
C	August 31
D	September 30

Explanation:

Detailed explanation-1: -NEW DELHI: The Reserve Bank of India (RBI) on Wednesday extended the deadline for processing recurring online transactions to September 30, 2021, from March 31, 2021.

Detailed explanation-2: -The Reserve Bank of India (RBI) has directed that banks will need to create tokens for all debit and credit card details used in online, point-of-sale and in-app transactions with effect from October 1, 2022.

Detailed explanation-3: -These new rules include new restrictions addressing credit card cancellation, billing, etc. Some of the rules of the RBI (Credit Card and Debit Card - Issuance and Conduct) Directions, 2022 came into effect on July 1, 2022.

There is 1 question to complete.