NEWS & ADVICE : CREDIT CARDS
RBI reports it has no problem with credit card loans
By Ankit Sharma
Oct 11, 2013
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It was reported by the RBI that it has not faced any issues with the credit card loans offering by banks to their card holders. However, it emphasizes the luqidity in the loan process. In an interview with the reporters, K C Chakrabarty, the Deputy Governor of RBI said that there is no veto in offering credit card loans and instructed banks not to charge the actual interest of 12 % as RBI is not charging interest to banks on credit card loans.

However, it should be noted that the RBI had imposed a ban during the last month on offering 0 % interest credit card loan schemes for the reason that there is a shortfall of lucidity in the scheme. The move will probably knock banks on sales during the festive season.


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