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?

EduRev

All Courses

Explore Courses UPSC Exam UPSC Test Series Free Notes EduRev Infinity

Open App

UPSC Exam > UPSC Questions > With reference to the card tokenisation servi...

Join the Discussion on the App

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?

FREE This question is part of

Daily Current Affairs MCQ - February 5, 2022

Attempt Test

Attempt this Test

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.

View all questions of this test

View all answers Start learning for free

< Previous Question Next Question >

Explore Courses for UPSC exam

Similar UPSC Doubts

With reference to the Tokenisation, consider the following statements:1. Tokenisation refers to replacement of actual credit and debit card details with an alternate code called the “token”, which will be unique for a combination of card, token requestor and device.2. A tokenised card transaction is considered safer as the actual card details are not shared with the merchant during transaction processing.Which of the statements given above is/are correct?

View answer

With reference to the Merchant Discount Rate, consider the following statements:1. It is the cost paid by a merchant to a bank for accepting payment from their customers via digital means.2. It is expressed in percentage of the transaction amount.3. It is applicable for online transactions and QR-based transactions.Which of the statements given above is/are correct?

View answer

With reference to ‘Card Tokenization guidelines’ announced by Reserve Bank of India (RBI), consider the following statements Tokenization refers to replacement of card details with an alternative code for every transaction No entity in the card transaction/payment chain shall store the actual card data for more than 2 months The guidelines are applicable to every device that connects with the internet including wrist watches, bandsSelect the correct statements using the appropriate code given below

View answer

Consider the following statements with reference to Securities Transaction Tax (STT): It is a type of financial transaction tax levied on transactions done on the domestic stock exchanges. The rates of STT are decided by the Securities and Exchange Board of India (SEBI). It is not applicable in case of Currency derivatives.Which of the statements given above are correct?

View answer

With reference to the Prohibition of Benami Property Transactions Act, 1988 (PBPT Act), consider the following statements:1. A property transaction is not treated as a benami transaction if the owner of the property is not aware of the transaction.2. Properties held benami are liable for confiscation by the Government.3. The Act provides for three authorities for investigations but does not provide for any appellate mechanism. Which of the statements .given above is/are correct?

View answer

Top Courses for UPSCView all

Current Affairs & Hindu Analysis: Daily, Weekly & Monthly

Lucent for GK

History for UPSC CSE

Indian Polity for UPSC CSE

CSAT Preparation

Top Courses for UPSC

View all

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?

Share with a Friend

Answer this doubt

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 2024 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 2024 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