Need help in settlement of your credit card dues or personal loans?
In the world of personal finance, managing credit cards responsibly is crucial. These plastic cards offer convenience, rewards, and financial opportunities. But with great power comes great responsibility. In this guide, we explore the details of closing a credit card, explaining why, when, and how to do it responsibly. The Importance of Managing Credit Cards […]
When it comes to credit card default, Indian banks have the legal provisions to take action against the defaulters. This includes filing a civil suit in court or initiating criminal proceedings. The banks may also make use of debt recovery tribunals in order to recover the money they are owed. What is the legal action […]
Facts of the case: The complainant, Vibhu Bhakru, had taken a credit card from the Opposite Party, Standard Chartered Bank in 1999 and had been very regular and prompt at payments. On 24.02.2004 an invoice was sent to the complainant demanding payment of Rs.750/- charged on account of renewal. The complainant requested redemption on the […]
The Reserve Bank of India, in its Bank-wise ATM/POS/Card Statistics, noted that in December 2018 the total number of outstanding credit cards issued was around 44.3 million. This number increased to 60.3 million by December 2020. Credit Card usage is inarguably increasing by leaps and bounds owing to the interest-free credit of upto 45 days, […]
Need help in settlement of your credit card dues or personal loans?
