Master Direction – Credit Card and Debit Card – Issuance and Conduct Directions

Question 1

Scheduled Commercial Banks (SCBs) other than Regional Rural Banks (RRBs) with net worth of ₹…………… and above are permitted to undertake credit card business either independently or in tie-up arrangement with other card issuing banks/NBFCs with the approval of their Boards.

Answer 1

100 Crore

Question 2

UCBs which are……………………, have minimum networth of………….., have …………………may issue credit card, provided they have taken approval from RBI.

Answer 2

financially sound, ₹100 crore, CBS enabled

Question 3

The card-issuer’s representatives shall contact the customers only between.

Answer 3

10:00 hrs and 19:00 hrs

Question 4

Any request for closure of a credit card shall be honoured within ………….. working days by the credit card-issuer, subject to payment of all dues by the cardholder

Answer 4

Seven