The Reserve Bank of India has released directions on issuing credit and debit cards, aiming to empower card users and check misconduct of issuers. Non-bank lenders must seek RBI nod before issuing credit cards, and follow strict regulations on sharing data even with their co-branding partners. The regulations empower credit card customers, mandate lenders to take consent of customers on …
Borrowers stare at an uncertain future as banks and non-banking financial companies are yet to come up with policies on restructuring of loans. Mumbai-based Tarun Shetty, 35, for instance, has three personal loans from HDFC Bank, Kotak Mahindra Bank and Clix Capital. Among lenders and card issuers Mint spoke to, only Federal Bank and SBI Cards and Payment Services Ltd …
