📝 One-liners · 65 cards
PLASTIC MONEY
What is 'plastic money' in the context of digital banking?
Plastic money refers to payment cards (credit, debit, prepaid) made of plastic that serve as a substitute for cash in financial transactions.
What is a charge card and how does it differ from a credit card?
Charge card requires full payment each month; no revolving credit.
Which Indian regulator governs the issuance and operation of credit and debit cards?
The Reserve Bank of India (RBI) regulates card issuance and operations in India through its Payment and Settlement Systems Act, 2007 and related master directions.
What is a store card or retail card in the context of plastic money?
Card issued by a retailer usable only at that store or chain.
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