Press Enter

Share with your friends and help them crack UPSC!

Or Share on

Answer

Correct Option is 30 June 2022

Solution:RBI extended CoF Tokenisation deadline till June 2022
Reserve Bank of India (RBI) extended the card-on-file (CoF) tokenisation deadline by 6 months i.e., to June 30, 2022. Earlier the deadline was fixed till December 31, 2021.
In March 2020, RBI had issued guidelines for the regulation of payment aggregators and payment gateways, prohibiting payment aggregators and merchants to store customer card credentials within their database or server from 30 June 2021
In September 2021, RBI extended the scope of tokenization from device-based tokenization to CoF tokenization services and barred merchants from storing actual card data while online transactions. RBI has fixed the deadline for card tokenization to January 1, 2022.

Get access to all of our verified questions