Why RBI has increased its scrutiny on co-branded credit cards

The RBI tightens scrutiny on co-branded credit cards to prevent unauthorized entry. Non-banking finance companies seek approval but only a few banks are permitted. Swiggy, Tata Neu, ICICI Bank, and HDFC Bank issue credit cards through co-branding arrangements. B2B vendor payments totaling Rs 30,000 crore per month have been halted. The total number of credit cards is 99.

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