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Tokenisation to interest rates: All about RBI's new credit card rules

OTP-based consent requirement for delayed activation will safeguard users against false applications, unwanted cards

Topics
Credit cards | RBI | Financial planning

Bindisha Sarang  |  Mumbai 



Photo: Shutterstock
Photo: Shutterstock

The Reserve Bank of India’s (RBI) new rules for credit and came into effect from October 1. These include tokenisation, one-time password (OTP) for activation after 30 days, written permission for enhancement of credit limit, and greater clarity on interest calculation.

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First Published: Fri, September 30 2022. 19:20 IST

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