With the prior approval of the Reserve Bank of India, the Non-Banking Financial companies (NBFCs) having a minimum net owned fund of 100 cr are allowed to undertake which of the following business ?

Debit cards

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Stored-value cards

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Credit card

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All the above

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None of these

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Solution

The correct option is C Credit card

The NBFCs, registered with the Reserve Bank of India, are allowed, selectively, to issue co-branded credit cards with scheduled commercial banks, without risk sharing, with prior approval of the Reserve Bank, for an initial period of two years and a review thereafter.

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1

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2

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