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RBI Concerns On Data Storage Forced Banks To Shut Down OneCard Deal — Exclusive
RBI has written to Federal Bank and South Indian Bank, asking them to re-evaluate their partnerships with OneCard.
14 Mar 2024, 11:33 AM IST ![NDTV Profit](/icons/feather-without-circle.svg)
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![<div class="paragraphs"><p>(Source: <a href="https://unsplash.com/@averye457?utm_content=creditCopyText&utm_medium=referral&utm_source=unsplash">Avery Evans</a> on <a href="https://unsplash.com/photos/white-and-blue-magnetic-card-RJQE64NmC_o?utm_content=creditCopyText&utm_medium=referral&utm_source=unsplash">Unsplash</a>)</p></div>](https://media.assettype.com/bloombergquint%2F2024-03%2Ffe32c467-90e7-4447-ab70-8e8976804c4a%2Favery_evans_RJQE64NmC_o_unsplash.jpg?rect=0%2C0%2C5147%2C2895&auto=format%2Ccompress&w=200)
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After amendments to master directions on credit card and debit cards, the Reserve Bank of India is coming down heavy on co-branded credit card partnerships, according to three people with knowledge of the matter. RBI has written to Federal Bank and South Indian Bank, asking them to re-evaluate their partnerships with fintechs for co-branded credit cards, according to the first two people quoted above.To be specific, this communicatio...
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