Legal Question in Banking Law in India
can a bank give money from a saving bank account to credit card division in india according to RBI rules?
Asked on 9/04/12, 12:15 am
3 Answers from Attorneys
Sanjay Kalra
Sanjay Kalra & Associates
YES if the credit card if of the same bank.
Answered on 9/04/12, 12:21 am
RAJIV GUPTA
(Cell: +91 9811284735) [email protected]
there is no rule permitting any bank to exhaust savings account for satisfaction of credit card outstanding bill unless there is an agreement between the consumer and bank to the contrary or there is a court direction.
Answered on 9/04/12, 12:35 am
Aniruddha Pawse
Aniruddha.P.Pawse Advocates
If the consumer has given instructions to the Bank or if there is an agreement to the effect then Yes.
Answered on 9/04/12, 4:41 am
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