The RBI has directed all OneCard partner banks to pause new card issuance. If you already have a OneCard, your card is safe and working normally. If you applied recently — or were planning to — read this before you panic.
Your OneCard continues to work exactly as before. Swipe, pay online, earn reward points, convert to EMI, use the app — all of it works without interruption. The RBI directive only affects new applications. Nothing changes for you right now.
In December 2025, the Reserve Bank of India sent letters to all six of OneCard's partner banks, directing them to stop issuing new OneCard credit cards until further notice. The RBI wants clarity on how customer data flows between OneCard — operated by FPL Technologies Pvt. Ltd. — and its banking partners.
This is not a sudden action out of nowhere. The RBI has been tightening its oversight of co-branded credit card partnerships for over a year — arrangements where a fintech company and a bank jointly offer a credit card. OneCard's model, where FPL Technologies manages almost the entire customer experience while the bank issues the card, came under the same scrutiny.
Neither OneCard nor the RBI has issued a detailed public statement. The information here is based on reporting by the Economic Times and Inc42, corroborated by disclosures from several partner banks.
The RBI directive covers all six banks that currently issue OneCard credit cards. New card issuance is paused at every one of them:
If you hold a card issued by any of these banks under the OneCard brand, your existing card is completely unaffected. The pause applies only to new applications going forward.
Existing OneCard customers are not impacted by this directive. Transactions, rewards, EMI conversions, the mobile app, and all other features continue to function as normal. This is consistent with how similar RBI pauses have worked in the past — the freeze is on new issuance, not on existing cardholders.
One thing worth monitoring: credit limit enhancement requests may take longer to process while the compliance review is ongoing. If you need a limit increase, apply through the app as usual — but be patient if it is slower than normal.
If you applied for a OneCard and the physical card has not yet been dispatched, your application is likely paused or may be rejected without a clear timeline. Check your status in the OneCard app. For clarification, reach their support at help@getonecard.app.
If your card has already been issued and dispatched, you are an existing customer and the freeze does not affect you. If your application was in the early stages — KYC pending, card not yet generated — expect either a delay or a rejection with no clear date for when applications will reopen.
In India, when a fintech company and a bank co-issue a credit card, the RBI requires that the bank — not the fintech — retains full ownership and control over customer data. The co-branding partner should only receive data that is strictly necessary for the service, and only with explicit customer consent.
According to reporting by the Economic Times, the RBI wanted clarity on whether OneCard's arrangement with its partner banks met these standards. In OneCard's model, FPL Technologies manages customer acquisition, onboarding, the mobile app, and much of the day-to-day operations — which raises the question of how much data access this requires, and whether it is fully compliant with the RBI's March 2024 circular on co-branded card norms.
The RBI has not found that OneCard violated any law. There is no confirmed data breach or misuse of customer data. This is a regulatory review to ensure compliance with updated norms — not a finding of wrongdoing. Treat any reports claiming otherwise with caution.
This is not unprecedented. The same kind of regulatory pause has happened with other co-branded card partnerships, and they were all eventually resolved:
The Scapia precedent is the most relevant comparison. A pause, a compliance review, a redesigned framework, and then a resumption — that is the likely path for OneCard as well, though timelines vary and there is no guarantee.
OneCard has acknowledged the RBI directive and stated that it is working closely with its partner banks to address the concerns raised and ensure full compliance. No specific timeline for resuming new card issuance has been provided.
For the most current and official information, always check getonecard.app directly or reach their support team. This article will be updated as the situation develops.
No. Existing OneCard cards continue to work normally. You can swipe, pay online, earn rewards, and use all app features without any disruption. The RBI directive only affects new card applications.
No. The RBI directive is a temporary pause on new card issuance while data-sharing norms are reviewed. OneCard continues to operate and serve existing customers. The restriction will be lifted once the required compliance measures are in place.
All six OneCard partner banks are affected: Federal Bank, BOB Card (Bank of Baroda), CSB Bank, Indian Bank, South Indian Bank, and SBM Bank India.
If your card has not yet been issued, your application is likely on hold or may be rejected. Check your status in the OneCard app or email help@getonecard.app.
There is no official date yet. The RBI will lift the restriction once it is satisfied with the revised data-sharing framework. A similar pause affecting Scapia and Federal Bank in 2024 was resolved within months.