2022
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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RBI withdrew the restrictions on which credit card service after compliance with data storage norms?
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Mastercard
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Discover
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Mastercard
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American Express
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Explanation:
Detailed explanation-1: -RBI lifts curbs on American Express after compliance with data rules - The Hindu.
Detailed explanation-2: -RBI withdraws business restrictions imposed on American Express.
Detailed explanation-3: -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-4: -The ban was imposed with effect from May last year due to non-compliance on storage of payment system data.
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