✨ Smart Article Summary
- FPL Technologies, known for its cobranded credit cards under the OneCard name, is currently facing a significant challenge.
- The Reserve Bank of India (RBI) has instructed its partner banks to halt the issuance of these credit cards, as revealed by three sources familiar with the situation.
- They mentioned that the RBI is seeking clarity on the data-sharing practices involved in this partnership before giving the green light to resume card issuance.
FPL Technologies, known for its cobranded credit cards under the OneCard name, is currently facing a significant challenge. The Reserve Bank of India (RBI) has instructed its partner banks to halt the issuance of these credit cards, as revealed by three sources familiar with the situation. They mentioned that the RBI is seeking clarity on the data-sharing practices involved in this partnership before giving the green light to resume card issuance.