The Reserve Bank of India (RBI) vide Notification No.DOR.AUT.REC.No,27/24.01.041/2022-23 issued the Master Directions on “Credit Card and Debit Card- Issuance and Conduct Directions, 2022”.
The provisions of these directions relating to the credit cards shall apply to every Scheduled Bank (excluding District Central Co-operative Banks) and all Non-Banking Financial Companies (NBFCs) operating in India and the provisions relating to debit cards shall apply to every bank operating in India.
These directions shall be effective from July 01, 2022.
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For further information, please contact:
Vineet Aneja, Partner, Clasis Law
vineet.aneja@clasislaw.com
