RBI: launched a whip on banks, the bank will give 500 rupees daily to those who have such credit cards

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RBI launched a whip on banks, the bank will give 500 rupees daily to those who have such credit cards: The Reserve Bank of India (RBI) on Thursday came out with its master instruction on issuance and operation of credit cards and debit cards. The Directions called the Reserve Bank of India (Credit Cards and Debit Cards – Issuance and Conduct) Directions, 2022, shall come into force with effect from July 01, 2022 and the provisions of these Directions relating to credit cards shall be issued to every scheduled bank (payment banks, state co-operative banks and banks) operating in India. (except District Central Co-operative Banks) and all Non-Banking Financial Companies (NBFCs).

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