2022
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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October 01
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October 04
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September 03
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September 04
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Detailed explanation-1: -The tokenization of card-based payments will be implemented from October 1, 2022. What is tokenization?
Detailed explanation-2: -“As per the regulatory guidelines of RBI, with effect from 01st October, 2022, Banks introduce tokenization facility for all the card users of both Debit and Credit card holders of RuPay/VISA/Master card to enhance online transaction security.
Detailed explanation-3: -How did India decide to carry out tokenisation? In September 2021, the RBI prohibited merchants from storing customer card details on their servers with effect from January 1, 2022, and mandated the adoption of card-on-file (CoF) tokenisation as an alternative.
Detailed explanation-4: -By September 30, all credit and debit card information used for online, in-app and point-of-sale (POS) transactions must be replaced with distinct tokens, according to the Reserve Bank of India (RBI).