Credit cards

RBI being the central bank and regulator has framed policies e.g:

Master Circular on Credit Card Operations.

The limitation starts from last admission of debt/payment.

There are many topics/threads related to CC at LCI that can be searched in the Search option on Right Hand side of the web page in both Forum/Experts Section.

Once can also go thru Consumer Forum decisions at:

www.confonet.nic.in

and also the Credit Card holders's associations websites etc

Originally posted by : Kumar Doab
	RBI being the central bank and regulator has framed policies e.g: Master Circular on Credit Card Operations The limitation starts from last admission of debt/payment. There are many topics/threads related to CC at LCI that can be searched in the Search option on Right Hand side of the web page in both Forum/Experts Section. Once can also go thru Consumer Forum decisions at: www.confonet.nic.in and also the Credit Card holders's associations websites etc

thanks for advice. the period of limitation is 3 years? what does it mean "from last admission of payment?

2. in what situations can card provide take coercive action even in case of false or unproven claims?

thanks

I have posted "The limitation starts from last admission of debt/payment."

and not

""from last admission of payment?"

And "The limitation starts from last admission of debt/payment." is easy tom understand......................The admission of debt can be admission on record in writing/recorded lines...............that can be established by the lender.
 

NO wothy action might be possible in case of false and unproven claims.

You may visit the nearest consumer court and have discussions with a lawyer appearing in such cases.

Originally posted by : Kumar Doab
	I have posted "The limitation starts from last admission of debt/payment." and not ""from last admission of payment?"   And "The limitation starts from last admission of debt/payment." is easy tom understand......................The admission of debt can be admission on record in writing/recorded lines...............that can be established by the lender.   NO wothy action might be possible in case of false and unproven claims. You may visit the nearest consumer court and have discussions with a lawyer appearing in such cases.

but that could mean that  they can make a claim after say 5 years in the first place and then as long as the card holder does not accept the same, the period of limitation would not start?

dont they have to make a claim within a time bound period.

thanks for attention