Answer: Rs 100 Crores
Notes: As per a recent notification from the Central Bank, Non-banking finance companies (NBFC) will need approval from the Reserve Bank of India (RBI) to issue credit cards. Any finance company including non-deposit taking one will require a Net-owned fund of Rs 100 crore for entering the credit card business. Regional rural banks can issue credit cards in collaboration with their sponsor bank or other banks. Further, financially sound scheduled urban cooperative Banks (UCBs) with minimum net worth of Rs 100 crore which are core banking system enabled (CBS) enabled can issue credit cards, subject to some conditions.
