3 min read.Updated: 25 Apr 2022, 09:51 AM ISTLivemint
New RBI rules: These directions will be effective from July 1, 2022
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The Reserve Bank of India (RBI) has asked card companies not to issue unsolicited credit cards or upgrade an existing card without the explicit consent of the customer. In its master directions on credit card and debit card issuance, the RBI said "the issue of unsolicited cards/upgradation is strictly prohibited". These directions will be effective from July 1, 2022.