The Reserve Bank of India wants credit card issuers to improve their treatment of cardholders, according to a notice the financial institution released. The notice calls on issuers to stop sending credit cards to customers unless requested, offer clear information about card interest rates, release the main reason for a rejected card application and refrain from delaying to send card statements to customers. The circular contains recommendations. The bank released the suggestions after studying banks' credit card operations and reviewing complaints from credit cardholders, a Reserve Bank spokesperson tells CardLine Global.
Authoritative analysis and perspective for every segment of the payments industry
Authoritative analysis and perspective for every segment of the industry
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