Current Affairs · Banking Regulations
Consider the following statements regarding the RBI's regulatory framework for credit cards: Statement 1: Card issuers shall ensure that telemarketers do not contact customers outside the hours of 09:00 AM to 07:00 PM. Statement 2: In the event of a cardholder's death, outstanding balances should be recovered from legal heirs only to the extent of the value of the estate inherited. Statement 3: Card issuers are required to provide a Key Fact Statement (KFS) containing critical information like APR and fees in a standardized format. Statement 4: Credit card issuers cannot unilaterally increase the credit limit of a customer without explicit consent. Which of the statements given above are correct?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 11, 2, 3, and 4✓
- 23 and 4 only
- 31, 2, and 3 only
- 41 and 2 only
Correct answer
1, 2, 3, and 4
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