Recent Lessons

Show all results for ""

Feature Overview

Ace your exams with our all-in-one platform for creating and sharing quizzes and tests.

Quizzes

Create quizzes and tests automatically from your content using AI.

Flashcards

Automatically turn your notes into digital flashcards.

Share, Export & Embed

Share with classmates or export to Excel and your learning management system.

Stats & Reporting

Auto-grading quizzes and tests with detailed stats and reports.

Mobile Apps

The smarter way to study – wherever you are.

Pricing

Search...

RBI Directs Card Networks to Halt BPSP Transactions

10 Questions

0 Views

RBI Directs Card Networks to Halt BPSP Transactions

Choose a study mode

Play Quiz

Study Flashcards

Spaced Repetition

Chat to lesson

Podcast

Play an AI-generated podcast conversation about this lesson

Questions and Answers

What action has the Reserve Bank of India (RBI) recently directed Visa and Mastercard to take?

Stop enabling commercial transactions by Business Payment Solution Providers (BPSPs) (correct)

Expand commercial transactions with BPSPs

Offer discounts to BPSPs

Promote BPSP transactions

Why did the RBI ask Visa and Mastercard to halt transactions with BPSPs?

To encourage more transactions through BPSPs

Due to violation of the Payment and Settlement Systems Act, 2007 (correct)

To reduce the use of virtual credit cards

As a reward for BPSP's compliance

How do Business Payment Solution Providers (BPSPs) facilitate business-to-business payments?

By allowing corporates to pay suppliers using virtual credit cards (correct)

By providing personal loans to businesses

By investing in stock markets on behalf of businesses

By offering free credit card services to individuals

What mechanism do BPSPs provide for businesses to accept card payments?

Online platform for managing payments Signup and view all the answers

How do BPSPs enable businesses to make payments to smaller suppliers?

By allowing payments through RTGS and NEFT transfers Signup and view all the answers

What is one of the main concerns of the Reserve Bank of India regarding BPSPs?

Inability to track the end utilization of funds Signup and view all the answers

How are specialized BPSP providers like EnKash and Kodo impacted by the recent directions from RBI?

They must stop providing virtual commercial card payment services Signup and view all the answers

What is the utility of BPSPs for businesses as mentioned in the text?

Facilitating urgent B2B payments without credit card acceptance infrastructure Signup and view all the answers

How do commercial cards differ from BPSPs in the context of B2B payments?

Commercial cards streamline B2B payments, while BPSPs manage cash flows Signup and view all the answers

What triggered the RBI's regulatory scrutiny over BPSPs according to the text?

Specific instances of dubious practices like unregistered merchants Signup and view all the answers