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Fair Practice Code for Credit Card Operations

  • 1.1

    This is a voluntary Code, recommended by Indian Banks Association for adoption by Credit Card-1 issuing member banks/institutions or their associates. It is expected that this fair practice code will act as a benchmark service standard in their dealings with individual customers. The code details the obligations the card issuers undertake while issuing credit cards and will guide their staff in dealing with customers. The code is expected to help the credit card users in knowing their rights and also measures they should take to protect their interests. The card issuers who adopt this code will place it on their websites and make copies available to customers on demand.

    The covenants of this code will supplement and will not replace those applicable under Bankers Fair Practice Code recommended by Indian Banks Association and adopted by the credit card issuing members/institutions.

  • About this Code
    1.2

    As a voluntary document, the Code promotes competition and encourages market forces to achieve higher operating standards to benefit customers. In the Code,you denotes the credit card customer and we the credit card issuer. The standards of the Code are governed by the four key commitments detailed in section 2. Unless stated otherwise, all parts of this Code apply to all the credit card products and services, whether we provide them across the counter, over the phone, on the internet or by any other method.

    Commitments outlined in this Code are applicable under normal operating environment. In the event of force majeure, we may not be able to fulfill the commitments under this Code.

Our banks dues collection policy is built on courtesy, fair treatment and persuasion. We believe in fostering customer confidence and long-term relationship. Our staff or any person authorized to represent us in collection of dues or/and security repossession will identify himself/herself and interact with you in a civil manner. We will provide you with all the information regarding dues and will give sufficient notice for payment of dues. Our staff/agents are governed by Model Code for Collection of Dues and Repossession of Security issued by Indian Banks Association.

  • 11.1
    You may terminate your credit card by giving notice to us and by following the procedure laid down by us in our service guide/ member booklet after clearing outstanding dues, if any.
  • 11.2
    We may terminate your credit card, if in our opinion, you are in breach of the cardholder agreement.

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