Target Exam

CUET

Subject

Economics

Chapter

Macro Economics: Money and Banking

Question:

Which of the following issues "Credit cards" in the country?

Options:

Government of India

Reserve Bank of India

Commercial banks

Both 1 and 3

Correct Answer:

Commercial banks

Explanation:

The Correct answer is Option 3: Commercial banks

A credit card is basically a financial instrument issued by banks with a pre-set credit limit, helping individuals make cashless transactions. It is issued by commercial banks of the country. Commercial banks issue credit cards in the country. The Government of India and the Reserve Bank of India do not issue credit cards; however, they regulate the banking and financial sectors.