Get ₹500 daily if your bank fails to close your credit card on time
According to RBI guidelines, if a bank does not shut down your credit card within seven business days, they must pay you a penalty of ₹500 for every day of delay, as long as you have cleared all your dues. Should your account remain active beyond the seven-day limit, you should reach out to the bank’s Principal Nodal Officer. Be sure to include your original complaint or ticket reference number and mention the specific RBI Master Direction rule.
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