RBI has invited comments on a draft circular on arrangements with card networks for issue of debit, credit and prepaid cards.
The draft circular mandates card issuers (banks/non-banks) to issue cards on more than one
card-network along with providing customers the facility to choose any one among the multiple card networks.
It also restrains card issuers from entering into agreements that limit their ability to tie up with other card-networks.
RBI has invited comments on the draft circular by August 4, 2023.
(Edited by : Pradeep John)
First Published: Jul 5, 2023 7:45 PM IST
