![RBI extends date for implementation of provisions concerning card issuance](https://www.gkseries.com/blog/wp-content/uploads/2022/06/download-2022-06-23T121350.658.jpg)
The Reserve Bank of India has notified that it has extended the timeline for implementation of a few provisions under its master directions on credit card and debit card issuance. The timeline has been extended by three months from July 1, 2022, to October 1, 2022.
Provisions: Card-issuers shall seek OTP based consent from the cardholder for activating a credit card, If consent is not received then card issuers shall close the credit card account without any cost.