# RBI Scrutiny halts OneCard new issuances; partner banks seek data norms clarity

> PL Technologies, the parent company of the popular metal credit card OneCard , has suspended the issuance of new credit cards following a directive from the Reserve Bank of India (RBI). As reported by...

- Source: https://www.creditkeeda.com/news/rbi-scrutiny-halts-onecard-new-issuances-partner-banks-seek-data-norms-clarity
- Publisher: Creditkeeda
- Section: News
- Author: Creditkeeda
- Published: 2025-12-07
- Last updated: 2025-12-07

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PL Technologies, the parent company of the popular metal credit card **OneCard**, has suspended the issuance of new credit cards following a directive from the Reserve Bank of India (RBI). As reported by *The Economic Times*, the central bank has instructed OneCard’s partner banks to immediately pause new customer onboarding while it seeks clarifications regarding data-sharing norms.

![](https://res.cloudinary.com/dyougagen/image/upload/v1765115934/creditkeeda-uploads/1765115933966-one-card-image.webp.webp)

According to the *ET* report, the regulator has issued letters to all of OneCard’s banking partners—including **Federal Bank, South Indian Bank, CSB Bank, and BOB Financial**—directing them to stop issuing the co-branded cards. The freeze is effective immediately and applies specifically to new applicants.

**RBI's Core Concern: Data Control** Sources cited by *The Economic Times* indicate that the RBI's scrutiny focuses on the data-sharing protocols between the licensed banks and the fintech partner. The regulator is reportedly keen to ensure that the partner banks maintain absolute control over **credit underwriting and customer transaction data**, rather than ceding critical oversight to the technology interface.

**Broader Regulatory Impact** This development marks another step in the RBI's tightening of the "fintech-led" credit card model. The central bank has previously emphasized that in co-branded partnerships, the licensed bank must remain the primary issuer in both practice and compliance.

The *Economic Times* report notes that this is similar to earlier regulatory pauses seen in the sector. For instance, the **Scapia Federal Bank credit card** faced a similar halt earlier this year but resumed issuances after aligning its operations with the RBI's revised frameworks.

**Impact on Customers**

- **New Applicants:** Applications for new OneCards are currently on hold until the partner banks satisfy the RBI's queries regarding their data-sharing structures.
- **Existing Cardholders:** There is no impact on current users. Existing OneCards remain fully operational for transactions and repayments.