Recently, RBI has enabled banks to perform transaction in contactless cards for value up to

Recently, RBI has enabled banks to perform transaction in contactless cards for value up to Rs ____?
[A]1000
[B]2000
[C]5000
[D]10000

2000
Reserve Bank of India has allowed banks to enable transactions in contactless cards (Tap and Pay) for value up to Rs 2000 without requiring a separate PIN authentication. The tap and pay refers to the use of near field communication technology in payment cards where instead of the traditional swiping of the card and punching in payment details, all the customer’s needs to do is wave a card in front of acceptance device for the bill to be settled.

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This question "Recently, RBI has enabled banks to perform transaction in contactless cards for value up to" was published on GKToday on May 25, 2015 at 2:21 pm. For Current Affairs Questions Archive Click Here. For General Knowledge Questions Archive Click Here.

Comments

  • tarak
    Reply

    Answer showing 5000 and in explanation it was showing 2000. I think correct answer is 2000.

  • Mahendra Patel
    Reply

    it is Rs. 2000/- not 5000/-