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Credit card woes & how to lodge a complaint

October 24, 2008

India's banking ombudsmen received as many as 3,087 credit card-related complaints against foreign banks and 7,020 such charges against Indian banks in the financial year 2007-08.

The number of credit card-related complaints against foreign banks and Indian banks stood at 2,187 and 5,501, respectively, during the previous year, according to Finance Minister P Chidambaram.

The finance minister said in Rajya Sabha recently that the Reserve Bank of India had undertaken a study on the credit operations of banks, which also included issue of unsolicited calls. Read on. . .

Image: Pedestrians walk by a window sticker advertising Visa and MasterCard credit cards. | Photograph: Justin Sullivan/Getty Images

Also read: How to make tax gains on stock market losses

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