Credit Card Update: Nowadays, most people use credit cards. But did you know that some payments, such as credit cards, do not make payments? In fact, the Reserve Bank of India has banned certain payments through credit cards.
NEW DELHI: Prohibited Transactions On Credit Card – Promoting Digital Payment In addition, the trend of credit cards among users is constantly increasing. Whether it’s shopping or billing, mobile recharges rely on a digital payment system. But many times credit card customers are advantageous when there is no specific amount in the account. Often times, people get into credit cards easily, rather than having to borrow money from someone else in difficult times. But when using a credit card, it is important to have relevant information. Otherwise the customer could get into huge hardship.
The most important rules relating to the credit card:
Most people have credit cards ( by the Credit Card ), while only a few of them are related to the fact that some rules have also been known. Some payments may not use a credit card.
Payment by credit card, are taboo:
in fact, the Reserve Bank of India (RBI), Credit Card ( by the Credit Card Payment ) prohibits certain payments. According to the central bank law, which means that these businesses can pay by credit card …
1-forex trading,
2-buying lottery tickets,
3-call-back services,
4-betting,
5-horse racing money, putting the
6-jujatakke related to trade,
7– Purchase of banned magazines..
Bank Message to Customers by Email:
SBI, the country’s largest public sector bank, has informed the RBI’s guidelines by sending an email to its customers. There are many foreign exchange traders, casinos, hotels and websites that advertise the businesses and services already mentioned and pay for these transactions with your credit card. But it is mentioned in the mail that credit cards cannot be used for these transactions.
Know what the rule is …
Credit card use is strictly prohibited for transactions already stated under the Foreign Exchange Management Act, 1999 and other applicable rules. The Cardholder shall be solely responsible if this guideline is violated. The Reserve Bank of India has made it clear in its rules that the Bank may take the cardholder’s card in violation of this rule.
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