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...