CURRENT AFFAIRS

Detailed explanation-1: -IDBI Bank gives a new dimension to its usage of debit cards with the launch of ContactlessCards-a convenient, secureand ease of use debit card that takes half the time to complete a transaction than its traditional counterpart.

Detailed explanation-2: -What is RuPay Contactless card? RuPay Contactless is a card which allows you to make payments in fraction of seconds, just by tapping the card on the card reader (supporting contactless transactions). You don’t need to enter the PIN for completing contactless payments below ₹ 5000.

Detailed explanation-3: -Industrial Credit and Investment Corporation of India (ICICI) Bank launched the country’s first-ever ‘contactless’ debit and credit cards. These cards will give the customers to make electronic payments by waving the cards near the merchant terminal instead of dipping or swiping.

Detailed explanation-4: -Detailed Solution. The correct answer is Central Bank of India. Central Bank of India launched a contactless ‘RuPay Select’ debit card in December 2020.

Detailed explanation-5: -RuPay credit cards have been in operation since June 2017, with eight public sector banks, one private sector bank and one cooperative bank issuing the card without any formal launch. A pilot project was implemented to technically enable more banks in RuPay credit cards with an additional five public sector banks.