CREDIT CARDS IN INDIA

Reserve Bank of India issued master circular about credit card operation in india. It includes the eligibility to have a credit card,card limit and all the details regarding to it. Reserve Bank of India also defines the maximum rate of interest on credit cards. The master circular includes

Paragraph No	Particulars
A	Purpose
B	Classification
C	Previous guidelines consolidated
D	Scope of application
1	Introduction
2	Issue of cards
3	Interest rates and other charges
4	Wrongful billing
5	Use of DSAs/DMAs and other agents
6	Protection of customer rights
7	Redressal of grievances
8	Internal control and monitoring systems
9	Fraud control
10	Right to impose penalty
	Annex – Most Important Terms and Conditions
	Appendix – List of circulars consolidated

Full master circular about credit cards is as under.

Credit Cards