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    Question

    Scheduled Commercial Banks (SCBs) are permitted to

    undertake credit card business either independently or in tie-up arrangement with other card-issuing banks/NBFCs with the approval of their Boards and are required to hold how much net worth in order to undertake the business?
    A 50 crores Correct Answer Incorrect Answer
    B 75 crores Correct Answer Incorrect Answer
    C 100 crores Correct Answer Incorrect Answer
    D 200 crores Correct Answer Incorrect Answer
    E 250 crores Correct Answer Incorrect Answer

    Solution

    Scheduled Commercial Banks (SCBs) are permitted to undertake credit card business either independently or in tie-up arrangement with other card-issuing banks/NBFCs with the approval of their Boards and are required to hold net worth of Rs 100 crores in order to undertake the business

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