- iPhone maker Apple is planning to introduce its credit card, known as Apple Card, in India to take advantage of the growing opportunities in the country’s financial sector.
- Apple intends to collaborate with HDFC Bank to offer Apple Card to Indian customers.
- In India, only banks can launch credit cards while UPI is for customers to make seamless and fast payments by scanning QR codes through mobile phones.
- Apple has held talks with the Reserve Bank of India on the modalities of the card. RBI has reportedly asked the company to follow the regular process for co-branded credit cards.
Qns : Which bank is Apple planning to collaborate with to offer the Apple Card in India?
(A) ICICI Bank
(B) HDFC Bank
(C) State Bank of India
(D) Axis Bank
Ans : (B) HDFC Bank