BackRBI to appoint ombudsman serving officers on credit cards
RBI to appoint ombudsman serving officers on credit cards
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Bangalore: The Reserve Bank would appoint ombudsman serving officers in addition to ombudsmen already functioning at different centres in the country to redress complaints, especially regarding credit cards.
Administration of Ombudsman has been taken over by RBI, which is going to appoint ombudsman serving officers for a period of three years, the banking regulator’s Deputy Governor V Leeladhar said on 21 May 2007.
“With 80% of complaints received being about credit cards, the Ombudsman scheme has now enlarged its scope, including credit cards in its ambit," he said while unveiling the Corpbank International Credit Card here.
Highlighting certain concerns about international credit cards, Leeladhar said banks need to be vigilant about misuse of credit cards through internet and security breach either by the bank or the vendor.
CorpBank’s International Credit Card will have Classic and Gold credit cards. While the Classic Credit Card is a mass market-entry level product, Gold Credit Card is targeted at the high-income individuals.
The cards are associated to VISA International and will be accepted by all VISA member establishments across the globe. Of the 21 million outlets accepting VISA card, 1.1 million are in India.
The cards can also be used at over 10 lakh VISA ATMs globally, of which over 16,000 ATMs are in India. This includes more than 930 CorpBank’s ATMs.
Corporation Bank has tied up with Venture Infotek Global Pvt Ltd, as its back-end partner for the credit card operations.
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