Bank Paid me Rs 11,500 as Penalty #banks #money #finance #education

In new credit card rules, RBI has made it mandatory for the issuer that any request for closure of a credit card should have to be honoured within seven working days.

🔸Failing to do that the issuer will have to pay the penalty of ₹500 per day of delay to the customer till the closure of the account, provided there is no outstanding in the account.

Source:- livemint, RBI
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#bank #rbi #rules #personalfinance #financialeducation #tejasjoshi #money