The Reserve Bank of India (RBI) on March 07, 2024, issued the amendment to the Master Direction - Credit Card and Debit Card – Issuance and Conduct Directions, 2022.
The applicability of this circular are as stated:
• Instructions relating to credit cards shall apply to all credit card issuing Banks and Non-Banking Financial Companies (NBFCs).
• Instructions relating to debit cards shall apply to every bank operating in India.
The amended provisions of the Master Direction are enclosed in the Annex to this circular. Frequently Asked Questions relating to the provisions contained in the Master Direction are placed under FAQ Section on the website and as an Appendix to the Master Direction.
The amended provisions contained in this circular shall come into effect from March 07, 2024.
[Circular No. RBI/2023-24/132 DOR.RAUG.AUT.REC.No.81/24.01.041/2023-24]
