Explain Recent Reforms by the PSB to Credit Cards, Debit

question 94

Essay

Explain recent reforms by the PSB to credit cards, debit cards and ATMs.What has been the overall goal of these reforms?

---

Definitions:

Accountability

The obligation of an individual or organization to account for its activities, accept responsibility for them, and to disclose the results in a transparent manner.

Liability

The state of being responsible for something, especially in terms of legal or financial obligations.

Aadhaar

A 12-digit unique identity number issued by the Indian government to residents based on their biometric and demographic data.

Insurance Programs

Schemes offered by companies or governments to provide financial protection and risk management for individuals, properties, and liabilities.