UPSC Exam > UPSC Questions > With reference to the card tokenisation servi...
Start Learning for Free
With reference to the card tokenisation services, consider the following statements:
1. The Reserve Bank of India has permitted authorised card networks to offer card tokenisation services to any token requestor in a bid to make card transactions more safe, secure and convenient for the users.
2. It has provided the facility to interested card holders only for their mobile phones and tablets.
Which of the statements given above is/are correct?
- a)1 only
- b)2 only
- c)Both 1 and 2
- d)Neither 1 nor 2
Correct answer is option 'C'. Can you explain this answer?
Verified Answer
With reference to the card tokenisation services, consider the followi...
The Reserve Bank of India has permitted authorised card networks to offer card tokenisation services to any token requestor in a bid to make card transactions more safe, secure and convenient for the users.
- In a notification issued, RBI said that it has provided the facility to interested card holders only for their mobile phones and tablets.
- There has been an uptake in the volume of tokenised card transactions during the recent months and on a review of the framework and keeping in view stakeholders feedback, RBI decided to extend the scope of tokenisation to include consumer devices – laptops, desktops, wearables (wrist watches, bands, etc.) and Internet of Things (IoT) devices.
- Hence both statements are correct.
Most Upvoted Answer
With reference to the card tokenisation services, consider the followi...
Overview of Card Tokenisation Services
Card tokenisation is a process that enhances the security of card transactions by replacing sensitive card details with a unique identifier or "token." This method reduces the risk of data breaches during online transactions.
Statement 1: RBI's Permission for Tokenisation Services
- The Reserve Bank of India (RBI) has indeed permitted authorised card networks to offer card tokenisation services.
- This initiative aims to enhance the safety, security, and convenience of card transactions for users.
- By allowing various token requestors to access these services, RBI is promoting a more secure ecosystem for digital payments.
Statement 2: Facility for Mobile Phones and Tablets
- The statement mentions that the RBI has limited the tokenisation facility to only mobile phones and tablets.
- However, this is incorrect. The tokenisation service can be utilized across various devices, not just mobile phones and tablets.
- Users can avail of tokenisation services on desktops and other compatible devices as well.
Conclusion: Correctness of the Statements
- Based on the analysis, Statement 1 is correct while Statement 2 is incorrect.
- Therefore, the correct answer is option 'C': both statements are not correct.
Understanding these aspects of the RBI's card tokenisation services is crucial for consumers and stakeholders in the financial sector, as it significantly impacts transaction security and user experience.
Card tokenisation is a process that enhances the security of card transactions by replacing sensitive card details with a unique identifier or "token." This method reduces the risk of data breaches during online transactions.
Statement 1: RBI's Permission for Tokenisation Services
- The Reserve Bank of India (RBI) has indeed permitted authorised card networks to offer card tokenisation services.
- This initiative aims to enhance the safety, security, and convenience of card transactions for users.
- By allowing various token requestors to access these services, RBI is promoting a more secure ecosystem for digital payments.
Statement 2: Facility for Mobile Phones and Tablets
- The statement mentions that the RBI has limited the tokenisation facility to only mobile phones and tablets.
- However, this is incorrect. The tokenisation service can be utilized across various devices, not just mobile phones and tablets.
- Users can avail of tokenisation services on desktops and other compatible devices as well.
Conclusion: Correctness of the Statements
- Based on the analysis, Statement 1 is correct while Statement 2 is incorrect.
- Therefore, the correct answer is option 'C': both statements are not correct.
Understanding these aspects of the RBI's card tokenisation services is crucial for consumers and stakeholders in the financial sector, as it significantly impacts transaction security and user experience.
|
Explore Courses for UPSC exam
|
|
Similar UPSC Doubts
Top Courses for UPSCView all
Question Description
With reference to the card tokenisation services, consider the following statements:1. The Reserve Bank of India has permitted authorised card networks to offer card tokenisation services to any token requestor in a bid to make card transactions more safe, secure and convenient for the users.2. It has provided the facility to interested card holders only for their mobile phones and tablets.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer? for UPSC 2025 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about With reference to the card tokenisation services, consider the following statements:1. The Reserve Bank of India has permitted authorised card networks to offer card tokenisation services to any token requestor in a bid to make card transactions more safe, secure and convenient for the users.2. It has provided the facility to interested card holders only for their mobile phones and tablets.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer? covers all topics & solutions for UPSC 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for With reference to the card tokenisation services, consider the following statements:1. The Reserve Bank of India has permitted authorised card networks to offer card tokenisation services to any token requestor in a bid to make card transactions more safe, secure and convenient for the users.2. It has provided the facility to interested card holders only for their mobile phones and tablets.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer?.
With reference to the card tokenisation services, consider the following statements:1. The Reserve Bank of India has permitted authorised card networks to offer card tokenisation services to any token requestor in a bid to make card transactions more safe, secure and convenient for the users.2. It has provided the facility to interested card holders only for their mobile phones and tablets.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer? for UPSC 2025 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about With reference to the card tokenisation services, consider the following statements:1. The Reserve Bank of India has permitted authorised card networks to offer card tokenisation services to any token requestor in a bid to make card transactions more safe, secure and convenient for the users.2. It has provided the facility to interested card holders only for their mobile phones and tablets.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer? covers all topics & solutions for UPSC 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for With reference to the card tokenisation services, consider the following statements:1. The Reserve Bank of India has permitted authorised card networks to offer card tokenisation services to any token requestor in a bid to make card transactions more safe, secure and convenient for the users.2. It has provided the facility to interested card holders only for their mobile phones and tablets.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer?.
Solutions for With reference to the card tokenisation services, consider the following statements:1. The Reserve Bank of India has permitted authorised card networks to offer card tokenisation services to any token requestor in a bid to make card transactions more safe, secure and convenient for the users.2. It has provided the facility to interested card holders only for their mobile phones and tablets.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer? in English & in Hindi are available as part of our courses for UPSC.
Download more important topics, notes, lectures and mock test series for UPSC Exam by signing up for free.
Here you can find the meaning of With reference to the card tokenisation services, consider the following statements:1. The Reserve Bank of India has permitted authorised card networks to offer card tokenisation services to any token requestor in a bid to make card transactions more safe, secure and convenient for the users.2. It has provided the facility to interested card holders only for their mobile phones and tablets.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer? defined & explained in the simplest way possible. Besides giving the explanation of
With reference to the card tokenisation services, consider the following statements:1. The Reserve Bank of India has permitted authorised card networks to offer card tokenisation services to any token requestor in a bid to make card transactions more safe, secure and convenient for the users.2. It has provided the facility to interested card holders only for their mobile phones and tablets.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer?, a detailed solution for With reference to the card tokenisation services, consider the following statements:1. The Reserve Bank of India has permitted authorised card networks to offer card tokenisation services to any token requestor in a bid to make card transactions more safe, secure and convenient for the users.2. It has provided the facility to interested card holders only for their mobile phones and tablets.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer? has been provided alongside types of With reference to the card tokenisation services, consider the following statements:1. The Reserve Bank of India has permitted authorised card networks to offer card tokenisation services to any token requestor in a bid to make card transactions more safe, secure and convenient for the users.2. It has provided the facility to interested card holders only for their mobile phones and tablets.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer? theory, EduRev gives you an
ample number of questions to practice With reference to the card tokenisation services, consider the following statements:1. The Reserve Bank of India has permitted authorised card networks to offer card tokenisation services to any token requestor in a bid to make card transactions more safe, secure and convenient for the users.2. It has provided the facility to interested card holders only for their mobile phones and tablets.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer? tests, examples and also practice UPSC tests.
|
|
Explore Courses for UPSC exam
|
|
Signup to solve all Doubts
Signup to see your scores go up within 7 days! Learn & Practice with 1000+ FREE Notes, Videos & Tests.
|
© EduRev
|
Education Revolution
|
|
Signup to see your scores
go up
within 7 days!
within 7 days!
Takes less than 10 seconds to signup