{"id":2260,"date":"2016-11-23T06:15:00","date_gmt":"2016-11-23T06:15:00","guid":{"rendered":"http:\/\/dwarkaparichay.com\/blog\/2016\/11\/post-demonetisation-malpractices-of\/"},"modified":"2018-06-12T06:50:31","modified_gmt":"2018-06-12T01:20:31","slug":"post-demonetisation-malpractices-of","status":"publish","type":"post","link":"https:\/\/dwarkaparichay.com\/blog\/post-demonetisation-malpractices-of\/","title":{"rendered":"Post demonetisation &#8211; Malpractices of Banks in respect of Credit Cards be checked"},"content":{"rendered":"<div dir=\"ltr\" style=\"text-align: left;\" trbidi=\"on\">\n<b><i>SUBHASH CHANDRA AGRAWAL<\/i><\/b><br \/><b>(Guinness Record Holder &amp; RTI Activist)<\/b><\/p>\n<p>After demonetisation of notes, India will be marching ahead towards a cashless economy by promoting use of credit-cards by eligible persons. But presently there are lot of irregularities and malpractices especially by private-sector banks in respect of credit-cards. Union government and Reserve Bank of India (RBI) should frame uniform guidelines\/interest-rates\/penalties\/charges etc for all banks issuing credit-cards.&nbsp;<\/p>\n<div class=\"separator\" style=\"clear: both; text-align: center;\">\n<a href=\"https:\/\/4.bp.blogspot.com\/-VqCmmEzLaxM\/WDWyXkJRcnI\/AAAAAAABSeI\/zObHW57SaJw8OzJXMc8t4_xlFdtChN5dwCLcB\/s1600\/Post%2Bdemonetisation%2B-%2BMalpractices%2Bof%2BBanks%2Bin%2Brespect%2Bof%2BCredit%2BCards%2Bbe%2Bchecked.jpg\" imageanchor=\"1\" style=\"margin-left: 1em; margin-right: 1em;\" rel=\"nofollow noopener\" target=\"_blank\"><img loading=\"lazy\" decoding=\"async\" border=\"0\" height=\"400\" src=\"data:image\/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==\" data-layzr=\"http:\/\/dwarkaparichay.com\/blog\/wp-content\/uploads\/2016\/11\/Postdemonetisation-MalpracticesofBanksinrespectofCreditCardsbechecked.jpg\" width=\"640\" \/><\/a><\/div>\n<div>\n<\/div>\n<div>\nArguments put by Banks to have extra-ordinary interest-rate to overcome heavy cost in credit-card operation is in itself confessional for giving banks permission to levy \u2018hidden charges\u2019 to befool customers. Even credit-card statements are designed in a manner like \u2018Minimum Amount Due\u2019 to befool customers that they put themselves in heavy dose of interest-rate. Banks also resort to malpractice by deliberately not sending credit-cards statements to make customers defaulters forcing them to pay heavy interest-dose apart from penalty. Likewise penalty imposed for over-limit use of credit-cards should not be permissible. Instead Banks can refuse payment on crossing limit. It is ridiculous that an over-payment of just rupees 100 may attract heavy-penalty of rupees 500 plus service-tax.<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>SUBHASH CHANDRA AGRAWAL(Guinness Record Holder &amp; RTI Activist) After demonetisation of notes, India will be marching ahead towards a cashless economy by promoting use of credit-cards by eligible persons. But presently there are lot of irregularities and malpractices especially by private-sector banks in respect of credit-cards. Union government and Reserve Bank of India (RBI) should frame uniform guidelines\/interest-rates\/penalties\/charges etc for all banks issuing credit-cards.&nbsp; Arguments put by Banks to have extra-ordinary interest-rate to overcome heavy cost in credit-card operation is in itself confessional for giving banks permission to levy \u2018hidden charges\u2019 to befool customers. Even credit-card statements are designed in <\/p>\n","protected":false},"author":1,"featured_media":20287,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[1879,67],"class_list":["post-2260","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-update","tag-update","tag-views","has_thumb"],"_links":{"self":[{"href":"https:\/\/dwarkaparichay.com\/blog\/wp-json\/wp\/v2\/posts\/2260","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dwarkaparichay.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dwarkaparichay.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dwarkaparichay.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dwarkaparichay.com\/blog\/wp-json\/wp\/v2\/comments?post=2260"}],"version-history":[{"count":1,"href":"https:\/\/dwarkaparichay.com\/blog\/wp-json\/wp\/v2\/posts\/2260\/revisions"}],"predecessor-version":[{"id":20288,"href":"https:\/\/dwarkaparichay.com\/blog\/wp-json\/wp\/v2\/posts\/2260\/revisions\/20288"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dwarkaparichay.com\/blog\/wp-json\/wp\/v2\/media\/20287"}],"wp:attachment":[{"href":"https:\/\/dwarkaparichay.com\/blog\/wp-json\/wp\/v2\/media?parent=2260"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dwarkaparichay.com\/blog\/wp-json\/wp\/v2\/categories?post=2260"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dwarkaparichay.com\/blog\/wp-json\/wp\/v2\/tags?post=2260"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}