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RBI Credit Card Closure Rules: 7-Day Window, ₹500 Penalty & Math Under RBI rules, banks must close credit cards within 7 working days or pay ₹500/day penalty. See 30-day non-activation, 1-year dormancy, and unsolicited card rules.
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Consumer Protection
Articles tagged Consumer Protection on FinWiz24 — plain-English guides on tax, GST, loans, and personal finance.
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- BlogCredit Card Payment Failed But Amount Debited — What to Do in India
Your card was declined but ₹5,000 still left your account. Here is the exact RBI timeline for reversal, what banks must do, and how to protect yourself.