Which of the following points is/are "correct" with respect to the amendment of the 'Master Direction - Credit Card and Debit Card - Issuance and Conduct Directions, 2022' by the Reserve Bank of India in March 2024?
A. The Reserve Bank of India (RBI) amended the 'Master Direction - Credit Card and Debit Card - Issuance and Conduct Directions, 2022', customers will get the freedom to choose from multiple card networks.
B) RBI amended in the exercise of the powers conferred by Section 35A of the Banking Regulation (BR) Act, 1949 and Chapter IIIB of the RBI Act 1934.
C) The timeline to follow the new norms by the card issuers is 6 months.
1
Only A
2
Only C
3
Both A and C
4
Both B and C
5
All A, B and C