RBI guidelines governing the issuance and operations of credit cards became effective from Today (except 3) ✨
This thread 🧵 will act as one stop point for checking all provisions explained in simple words 👇
Let's go 🏃
[1]Applicability
- The guidelines applies to all banks except payment banks, co-operative banks and NBFCs operating in India
[2]New entry ⭐⭐⭐⭐
- Apart from banks, NBFC can also apply for Credit card issuance if Net owned fund > 100 crore & take special approval from RBI
[3]No place to hide bank policy
- Every bank has to have a well documented board approved policy
- Which should be reviewed and audited every six months
But most importantly ⭐⭐⭐
- The policy should be displayed prominently on website, so customers can also access it
(!/n) My Second Thread 🧵
and this time the topic is "Customer care numbers for Top 20 Credit card issuers"
Save/Bookmark it for your reference and Consider retweeting so it reaches to maximum people 🙌 #Creditcard#Customercare