https://www.taxtmi.com/news?id=4253 Banks are granted general permission to issue rupee denominated co-branded pre-paid and debit cards subject to DPSS directions and specified conditions: a Board approved policy addressing risks; due diligence of non-bank partners; issuer liability for partner acts and compliance with outsourcing guidelines; limitation of non-bank roles to marketing/distribution; strict confidentiality of customer information; adherence to KYC/AML/CFT and PMLA obligations; no interest on card balances; and compliance with DPSS and foreign exchange rules for foreign currency instruments. en-us Thu, 13 Dec 2012 10:08:04 +0530 Thu, 13 Dec 2012 10:08:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=4253 Banks are granted general permission to issue rupee denominated co-branded pre-paid and debit cards subject to DPSS directions and specified conditions: a Board approved policy addressing risks; due diligence of non-bank partners; issuer liability for partner acts and compliance with outsourcing guidelines; limitation of non-bank roles to marketing/distribution; strict confidentiality of customer information; adherence to KYC/AML/CFT and PMLA obligations; no interest on card balances; and compliance with DPSS and foreign exchange rules for foreign currency instruments. News - Thu, 13 Dec 2012 10:08:04 +0530 https://www.taxtmi.com/news?id=4253