look news india
Credit card has become an important part of the life of many people nowadays. But, sometimes credit cards are issued by some banks or financial institutions without the knowledge of the customers. In such a situation, customers may face problems. If this has happened to you too, then there is no need to panic. You have some rights using which you can find a solution to this problem.
The Reserve Bank of India (RBI) has implemented strict rules to prevent unwanted credit card and related loans and fraud risks. Now banks or financial institutions (NBFCs) will not be able to send you a credit card without your asking. Earlier banks and NBFCs used to send credit cards without asking. This can cause many problems, such as-
Unnecessary Debt: If you hadn’t budgeted for the card, you could end up with unwanted debt.
Identity Theft: If the card falls into the hands of an unauthorized person, it can be used for fraud.
What are the rules now?
Now credit card issuers (banks and NBFCs) cannot send you a card without your consent. However, if you get a card without asking for it, you have the following rights.
Do not activate: Do not enter PIN or OTP to activate the card. This allows you to use the credit line without unnecessary activation. Wrong spending or fraud may occur if the card falls into someone else's hands.
Contact the card issuer: It is important to contact the card issuer. Find out if the card is issued by a bank or an NBFC. There are many ways to contact customer service, some banks also provide online reporting.
What will happen to the informers?
– Punishment for breaking the rules. Those who issue cards without permission will have to pay a fine.
– Free closure of your credit card account within 7 days of receipt of your complaint.
– RBI can impose a penalty on the declarant.
Protect your rights
Record all communications with the issuer. This will come in handy in case of any dispute later. It will also assist in filing a complaint with the RBI Ombudsman.
