Credit Card facilities need to be approached basically as a payment convenience and not as significant personal loan facilities. Limits and repayments should be structured appropriately, keeping in view the objectives behind personal loan ceiling interest rate also.
Banks shall continue to submit quarterly reports on applied interest rates, as stated in Circular BM 983 dated 28th December 2004 and outstanding as stated in our circular letter BDD/CBS/CB/ 2010/1840 dated 11th March 2010
Other applicable instructions, including fees/charges, remain unchanged.