Double-check� system for credit cards use
Posted on: 25/Aug/2014 2:42:14 PM
Reserve bank of India has emphasised the need for introduction of a �double-check� system for all transactions through credit cards.
Many transactions in the current procedure of �only one� check on the transactions has become suspect. So. RBI has recommended a double-check system.
Some establishments transact with the customers without proper checking on the credit card transactions. This creates a lot of scope for mal-operations. Such transactions sometimes result in loss of foreign exchange for the government. A �double check� system will prevent this.
