Reserve Bank of India Issues Collection Guidelines to Credit Card Companies

Published on:
12 September 2006 at 10:19 a.m. ET

Written by: Unknown Author –

http://www.insidearm.com/news/00025364-reserve-bank-of-india-issues-collection-g/

Reading out the riot act to credit card issuers, the Reserve Bank of India (RBI) on Tuesday released draft guidelines on credit card operations, which recommended, among a slew of other restrictions, that banks/non-banking finance companies (NBFC)s and their agents should not resort to intimidation or harassment of any kind against any person in their debt collection efforts.

The guidelines said these include acts intended to humiliate publicly or intrude upon the privacy of the card holders’ family members, referees and friends, making threatening and anonymous calls or making false and misleading representations.

For this complete story, please visit Reserve Bank of India Issues Collection Guidelines to Credit Card Companies.

Reserve Bank of India Issues Collection Guidelines to Credit Card Companies

Unknown Author

Featured Resources

Webinars

RA Compliance Corner: Managing Your Service Providers- Do you really have it all in order?

About