CHAPTER1 CREDIT CARD

INTRODUCTION:A credit card is a small plastic card issued to users as a system of payment. It allows its holder to buy goods and services based on the holder's promise to pay for these goods and services. The issuer of the card grants a line of credit to the consumer or the user) from which the user can borrow money for payment to a merchant or as a cash advance to the user. Usage of the term "credit card" to imply a credit card account is a metonym. When a purchase is made the user would indicate consent to pay by signing a receipt with a record of the card details and indicating the amount to be paid. Issuer agrees to pay the merchant and the credit card user agrees to pay the card issuer.

DEFINITION:The credit card can be defined as “A small plastic card that allows its holder to buy goods and services on credit and to pay at fixed intervals through the card issuing agency

1

MEANING:A credit card is a card or mechanism which enables card holder to purchase goods, travels and dine in a hotel without making immediate payments. The holders can use the cards to get credit from banks up to 45 days. The credit card relieves the consumers from the botheration of carrying cash and ensures safety. It is a convenience of extended credit without formality. Thus credit card is a passport to, “safety, convenience, prestige and credit.

2

FIRST CREDIT CARD INTRODUCE

3

increase in travel and the great demands for goods and services and thus. Inc (invented by Diners' Club founder Frank McNamara). airline. also issued their own metal money for gasoline and automotive services. oil companies and department stores In the late 30’s American Telephone and Telegraph (AT&T) introduced their “credit card” called the Bell System Credit Card. In 1950. the first universal credit card was introduced by Diners Club. Prominent (prestigious) customers were given a metal card that was used to defer payments (interest free) on services used by them. During the 1920s and 1930s this form of credit card system spread to other companies such as Railroad. This was a new 4 .HISTORY OF CREDIT CARDS In 1914 there was credit system that was used by Western Union to give to their more prominent customers in the interest of good customer service. The use of such “credit cards” greatly increased after World War II due to the rapid growth of businesses. it popularity grows significantly. This credit system was called Metal Money In 1924 General Petroleum Corporation (an oil company) saw the success and being aware of the value of goodwill this could offer to their customers. hotel chains. This was first offered to their employees followed by selected customers then the general public after its great success.

This system was very successful and after a couple of years. Approved customers were then given a card (Charge-It card) to make retail purchases. other banks impressed with this credit system jumped on board and offered their customers similar services. The bank would then. in turn. This credit card system was similar to today’s system where consumers could make a purchase using the card at participating merchants. This merchant would copy the customers Information from the unto a sales slip then obtain authorization from the bank thus. Cardholders were charged an annual fee and billed on a monthly or yearly basis. because of its convenience and efficiency. its popularity increased and many merchants were very eager to accept the card because customers spend a lot more than if it was cash since they can charge it to their cards In 1951 the first bank to implement this credit system was the Franklin National Bank in New York Customers would submit an application for a loan and were screened for credit. the Diner Club had a more general use.kind of credit card which set the foundation on which today’s card credit is established. reimburse this participating retailer and collect the debt from the consumer at a later date with a flat fee to cover the costs of providing this credit loan. unlike the other cards where they could only used for specific goods and services. During the 1950s. completing the purchase. 5 . It was first used by members for restaurant services but quickly expanded beyond that service to cover general travel And entertainment expenses thus covering a variety of establishments.

Their credit card was used for travel and entertainment purposes and accepted at participating airline merchants. In 1965. This means customers were now given the option to make regular monthly payments on the balance owed rather than having to pay off the entire balance at one time. These licensing agreements allowed other banks to issue BankAmerica Blue. Many other banks then followed offering this revolving credit option. the American Express Company (a traveler’s check business) entered the credit card business with their version of the universal credit card “Don’t leave home without it”. White. They were the first to introduce the revolving credit card.In 1958. In 1959 the Bank of America in California introduced the Bank of America card. and Gold BankAmerica card and also to interchange transactions through these issuing banks In 1966 a group of 14 US banks came together to form a new bankcard processing association that provides the ability to exchange information on credit card transactions. In other words. Bank of America foresaw more income potential and control and began issuing license agreements to other banks of all sizes in the US. customers could carry a balance from month to month. restaurants and hotels. Their credit system policy at the time (which changed in 1987) required cardholders to pay off their balances each month. 6 .

In 1969 banks interested in issuing cards of their own. they both lay down standards for credit card processing. This also means that most independent bank charge cards would now change over to either credit card programs. This changing of name was followed shortly (2 years after) by Master Charge to Master Card. its name was changed to Visa. became members of either the Master Charge program (MasterCard Association) or BankAmerica card program (Visa Association). In 1977 Bank Americard spreading its credit card business globally had difficulty achieving this due to the association of "America" in BankAmericard.In 1967 a group of four California banks formed a new Association entity called Master Charge (Renamed MasterCard in 1979) which is now known as MasterCard International. Both organizations issued credit cards through their member banks for their customers. This new bankcard processing association would expand their services and increase their income potential. 7 . Thus. they shared card program costs. Also. these small banks formed a mutual relationships with large national or international banks. thus. This was done to compete with the BankAmerica card (later became Visa in 1977). This was mutually beneficial to all banks and small financial institutions since.

are the most popular and also have the most respected symbols when it comes to credit cards. Only a few are listed but there are other bigger futuristic developments out there in the making 8 . This allowed consumers credit cards swiped by merchants to accessed issuing bank card holder information. this gives an extra benefit to card holders since they could make deposits 24 hours a day from most countries around the world. In the early 1980s the first Automatic Teller Machines (ATMs) came into existence. increased speed of processing authorizations and decreases the usage of paper. The credit card/payment system will continue to evolve as a new technology payment system developed through the advancement in science and technology. ATMs give consumers the opportunity to have access to cash from their bank account or from their credit card. 2005 and beyond: Today. This gave credit card holders access to cash in different currencies from different countries around the world as well as locally. the electronic processing of credit cards improved through electronic dial-up terminals and magnetic stripes on the back of credit cards. This method decreased fraud.In 1979 Master Charge changed its name to Master Card. Also.“future credit cards” that are in the making for the near future. On credit Card. Read articles below under the heading: Additional Info. and Discovery. VISA. MasterCard. American Express. Also.

ADVANTAGES OF CREDIT CARD The benefits of credit card can be grouped as follows A) BENEFITS TO THE BANK B) BENEFITS TO THE CUSTOMERS (CARD HOLDER) C) BENEFITS TO THE RETAILER 9 .

There is a scope and a potential for a better profitability out of income / commission earned from the traders turn over. however. c) The more important function of a credit card. e) More use by the car holder and consequently the growth of banking habits in general. The credit card provides the following advantages to the bank: the system provides an opportunity to the bank to attract new potential costumers.(A) BENEFITS TO THE BANK a) A credit card is an integral part of banks major services these days. f) Better network of card holders and increased use of cards means higher popularity and image of the bank 10 . is simply to yield direct profit for the bank. It enhances the customer satisfaction. d) This also provides additional customer services to the existing clients. This gives the bank an opportunity to find the latent talent from among existing staff that would have been otherwise wasted. b) To get new customers the bank has to employee special trained staff.

g) Savings of expense on cash holdings.base of the bank i) It brings into banks fold high net worth customers by introducing various types of credit card like Gold Card.e. j) It brings in new customers from various merchants outlet which accepts credit cards against sale of their goods/services. Executive Card. l) Large scale use of credits card and shops etc accepting them help to increase deposit base of the bank m) It increases interest income of the bank when card users avail of loan facilities to settle the bills. 11 . k) It creates a brand name and popular image for the bank. It increases h) customer. printing and man power to handle clearing transactions while considerably is reduced. stationery. i. n) This may increase the chances of relationship banking and there by retaining the customers.

thus. 12 .(B) BENEFITS TO CARD HOLDER The principal benefits to a card holder are: a) He can purchase goods and services at a large number of outlets without cash or cheque. either on card account or by using it as identification when encasings a cheque at the bank. d) The card holder has the period of free credit usually between 30-50 days of purchase e) Cash can usually be obtained with the card.The card is useful in emergency. It is convenient for him to carry credit card and he has trouble free travel and may purchase his without carrying cash or cheque. tending to reduce bank and handling charges. f) Availing credit with minimum formality. c) Months purchases can be settled with a single remittance. b) The risk factor of carrying and storing cash is avoided. and can save embarrassment.

Future. h) The card holder has the option of taking extended credit up to a pre arranged limit without reference to anyone. k) It also allows him to delegate spending power to add on members l) Credit card is considered as a status symbol. i It provides a proof of spending through banking channels to strengthen his position incase of disputes with sellers. revolving credit becomes automatically available as the outstanding balance is reduced. in additional to an initial credit and interest free period. 13 . j) It also gives him exposures to banking operation since systematic accounting for spending and payments are routed through banking channels.g) The credit card saves trouble and paper work to traveling business man.

14 . e) Suppliers/sellers no longer have to send reminders of outstanding debits. g) Advertising and promotional support on national scale. b) Increases in sale because of increased purchasing power of the cardholder due to unbilled credit available to the card holder. c) The retailers gain from the impulse buying and trading up the tendency to buy the bigger or better article d) Credit card ensures timely and certainly of payments. h) Development of prestigious clientele base.BENEFITS TO THE MERCHANT ESTABLISHMENT The principal benefits offer credit card to the retailer is a) This will carry prestigious weight to the outlets. f) Systematic accounting since sales receipts are routed through banking channels.

b) The customer tends to overspend out of immerse happiness. f) It might lead to spending habits and cardholders may end up in big debts i) Avoid the entire cost and security problem involved in handling cash. j) Losses to bad debts and reduced an additional liquidity is 15 . c) Discounts and rebates can rarely be obtained. etc e) Customers may be denied cash discount for payment through card. d) The cardholder is responsible for charges due to loss or theft of the card and the bank may not be party for loss due to fraud or collusion of staff.DISADVANTAGES OF CREDIT CARD:The following are the common disadvantages of the credit card: a) Some credit card transactions take longer time than cash transactions because of various formalities.

BENEFITS TO THE MERCHANT ESTABLISHMENT The principal benefits offer credit card to the retailer is a) This will carry prestigious weight to the outlets. f) Systematic accounting since sales receipts are routed through banking channels. b) Increases in sale because of increased purchasing power of the cardholder due to unbilled credit available to the card holder. 16 . g) Advertising and promotional support on national scale. e) Suppliers/sellers no longer have to send reminders of outstanding debits. h) Development of prestigious clientele base. c) The retailers gain from the impulse buying and trading up the tendency to buy the bigger or better article d) Credit card ensures timely and certainly of payments.k) It also allows him to delegate spending power to add on members l) Credit card is considered as a status symbol.

j) Losses to bad debts and reduced an additional liquidity is achieved.i) Avoid the entire cost and security problem involved in handling cash. 17 .

more than doubling the $105. One of the easiest ways to attract customers is to figure out which group of prospective customers you get your very best results for and go after them exclusively. As a matter of fact. U. Many professionals are afraid to do this claiming that they’ll be leaving someone out.S. in 2001.97 billion spent in 1980.MARKETING STRATEGIES American companies spend billions of dollars each year on marketing. Here are some of my favorites: Identify your niche. there are lots of effective strategies you can utilize that will help you grow your business fast. 18 . but many marketing experts agree that niche marketing as the easiest and fastest way to get business. (Source: "Advertising: Exposure and Statistics“ November 2003 newsletter of the Media Education Foundation) Now. but don’t panic. these figures may seem staggering to the independent professional on a budget. advertising expenditures alone topped $230 billion.

Conduct workshops. collect names.Position yourself as an expert. Provide free information products. For instance. while you’re at it don’t forget to. write articles and white papers about the problems your clients face and how they can solve them. Why? Experts make more money and get more media attention and that’s free advertising! Let’s face it. accountants and business 19 . Once you’ve identified your niche. my clients often need the services of bookkeepers. These are other professionals who sell non-competing services or products to the same niche customers you are targeting. seminars and tele-classes specifically geared towards helping your prospective customers and before long you’ll be regarded as an expert in your field. let the world know about how you can help. emails and addresses of prospects to keep filling your pipeline. it’s easier to trust a specialist than a generalist who’s trying to be everything to everyone. Develop ongoing relationships with complementary professionals and build your referral team. And.

or invite them to join you at events. go through your notes. designer. It takes numerous impressions to make the sale. and find creative ways of keeping in touch with them on a regular basis. send them interesting articles. To start. Institute a system to keep track of all of the people who are interested in your product or services. mortgage broker. architect and interior graphic designer. real estate attorney. Follow up with them in a variety of ways: call them to touch base. 20 . home improvement • contractor. ask them to subscribe to a newsletter.attorneys. use email. Likewise. Put together a list of all of the people you’ve spoken to in the last 6-9 months who’ve showed interest in you but haven’t become paying customers. that’s why you see commercials on TV over and over again for the same products. Commercial copywriter. Here are a couple of other examples: • Residential realtor. they refer business to me. printer. By Keeping track of all of the people who’ve showed interest and keeping your business on their radar screen you’ll turn more of them into paying customers.

bi monthly.right away (if you were a car salesman you wouldn’t wait for the new car to get dirty and dented!) • Ask them to write testimonials for you. (also right away) and compile a list of testimonials to use in your all of your marketing collateral. And. Create a marketing calendar and keep to it consistently. monthly and quarterly will help you to avoid the feast or famine syndrome that most independent professionals fall prey to. 21 .Let your satisfied customers help you sell your products or services. Here are a couple of ways to do this: • Ask them for referrals . Identify innovative ways to get more business from existing customers. by doing so. marketing will become easier since it becomes a regular part of your business life. Scheduling marketing activities that take place weekly.

So develop additional services or products to keep customers coming back for more. THE CARD ISSUER 3. THE CARD ASSOCIATION The card issuer is the bank that issues the credit card to the cardholder. THE CARD HOLDER 2. The merchant acquirer. THE MECHANICS OF CREDIT CARD TRANSACTION Card transactions are processed through a chain of connected parties. THE ACQUIRE 5. often a bank. "Card Association" is another term used to describe Visa and MasterCard.It’s much easier to get business from customers who are already happy with your services or products. processes transactions on behalf of the merchant. The use of a card involves an exchange of value between a consumer and a business. The card represents an offer for payment in exchange for the 22 . The five primary parties involved in processing a Visa or MasterCard credit card transaction are: 1. THE MERCHANT 4.

merchant’s goods or services. Funds are settled between issuers and acquirers through accounts with large banks that are members of the Federal Reserve System and have been selected for that purpose. The sales draft itself is the cardholder’s promise to pay. No money is exchange during clearing. 2. the bank posts the amount of the sale as a draw against the cardholder’s available credit and prepares to send payment to the acquirer. The acquirer provides data required to identify the cardholder’s account and provide the dollar amount of the sales. Clearing involves the exchange of data only. Clearing: During the clearing process the acquirer provides the appropriate issuer with information on the sale. Payments to merchants are made usually through the Federal 23 . When the issuing bank gets this data. When an acquirer accepts a draft from merchants. the bank is buying the value represented by the draft and paying the merchant the face value of that sales draft. Collecting payment through the interchange systems is a two-part process 1. Settlement: The second step is the actual exchange of funds. From this account the acquirer pays the merchant. The issuer sends a record of money that is being transferred from its account to that of the acquirer.

24 .Reserve’s Automated Clearing House (the “ACH”) which is an electronic funds transfer system. Back-end processing provides financial accounting for acquirers and issuers and prepares and submits clearing and settlement data into the Visa and MasterCard interchange networks. Transaction Processing Transaction processing involves front-end processing and back-end processing: Front-end processing involves authorization and data capture services and message connections via various communication networks to pint of sale devices. 3.

The terminal records the response code which becomes part of the transaction and is included in the clearing data sent through interchange to the issuer Authorization may also be obtain through other methods such as voice authorization. The preferred method to obtain an authorization and the one that will receive the lower interchange rate is to swipe a card’s magnetic strip through the point of sale terminal’s card reader. Other methods such as electronically generated audio responses (ARU) that permit the merchant to use the telephone like a key pad to enter sale information 25 . the information may be keyed into the terminal in order to get an electronic response. Front End Processing Authorization is the acknowledgement by the issuer that a particular account may be charged for the amount of the sale. The request is then routed through the processor’s VAP or MIP to the issuer’s authorization center.1. If the card cannot be electronically read by the terminal for any reason. The response is returned to the merchant’s terminal. The merchant can call an 800 number to verbally provide cardholder information and receive an operator’s response.

can also be used. If for any reason the issuer or its authorization center cannot be reached, the card Associations will act as stand-in processors to provide authorizations.

Electronic Draft Capture
Draft capture is the process of transferring sales draft data into electronic format so that it may be sent through the interchange networks for clearing and settlement. Data identifying the cardholder account and expiration date is put into the point of sales terminal, either by swiping the card thorough a card reader or manually keying the information into the terminal’s keypad. The amount of the sales is then entered and an authorization requested. Once an authorization code has been received, the terminal is prompted to store data on the completed sale in its memory. .

26

2. Back-End Processing
Back-end processing involves the various accounting functions that enable transactions to be recorded to the proper merchant or cardholder account. During back-end processing reports are created for distribution to the acquirers that include:

1) Settlement data 2) Security/fraud data 3) Retrieval/chargeback data 4) Funds disbursements data

Transactions for internet and other card not present environments work similarly but can have additional processing steps. Both Visa and MasterCard have Internet authentication programs (not to be confused with authorization) named Verified by Visa (By) and MasterCard Secure Code (MCSC) that do alter the transaction process somewhat. If the cardholder is registered with one of these programs, they must provide a pre-registered password at the time of purchase. This password is then passed along as
27

part of the information flow of the transaction (these programs and other techniques for controlling fraud are discussed in more detail later in this section). Visa and MasterCard offer both signature debit and credit cards to consumers. The primary difference between signature debit transactions and credit transactions are that debit cards are linked to a bank account. Rather than offering the cardholder 30 days of float and the option to finance ongoing balances, debit cards simply debit the cardholder’s bank account for authorized purchases. Signature debit transactions (which are sometimes also referred to as offline debit, a misleading reference and not to be confused with an offline EFT debit transaction) are different from PIN debit transactions in that the transaction does not involve use of a PIN number at the time of purchase. PIN transactions also are processed on entirely different networks referred to as EFT networks and are discussed in Section IV.

28

The Group has suggested various regulatory measures aimed at encouraging growth of credit cards in a safe. regulations.CREDIT CARD OPERATIONS OF BANK RBI Guidelines Pursuant to the announcement made in the Annual Policy Statement 2004-05. the Reserve Bank of India had constituted a Working Group on Regulatory Mechanism for Cards. In March 2005. All the credit card issuing banks / NBFCs should implement these guidelines immediately. the IBA released a Fair Practices Code for credit card operations which could be adopted by 29 . The following guidelines on credit card operations of banks have been framed based on the recommendations of the Group as also the feedback received from the members of the public. standards and practices of the card issuing banks are in alignment with the best customer practices. Each bank / NBFC must have a well documented policy and a Fair Practices Code for credit card operations. secure and efficient manner as well as to ensure that the rules. card issuing banks and others.

b) As holding several credit cards enhances the total credit available to any consumer. Add-on cards i. d) While issuing cards. at a minimum. especially to students and others with no independent financial means. banks / NBFCs should assess the credit limit for a credit card customer having regard to the limits enjoyed by the cardholder from other banks on the basis of self declaration/ credit information. may be issued with the clear understanding that the liability will be that of the principal cardholder. c) The card issuing banks / NBFCs would be solely responsible for fulfillment of all KYC requirements. even where DSAs / DMAs or other agents solicit business on their behalf. Issue for of Implementation cards a) Banks / NBFCs should independently assess the credit risk while issuing cards to persons.banks / NBFCs. the terms and conditions for issue and usage of a credit card should be mentioned in clear and simple language (preferably in 30 . The bank / NBFC's Fair Practice Code should.e. Guidelines 1. incorporate the relevant guidelines contained in this circular. those that are subsidiary to the principal card.

should be prominently indicated. it should be indicated in bold letters that the interest will be charged on the amount due after the due date of payment. The method of calculation of APR should be given with a couple of examples for better comprehension.English. b) Card issuers should quote annualized percentage rates (APR) on card products (separately for retail purchase and for cash advance. as given in the Appendix. The Most Important Terms and Conditions (MITCs) termed as standard set of conditions. Interest rates and other charges a) Card issuers should ensure that there is no delay in dispatching bills and the customer has sufficient number of days (at least one fortnight) for making payment before the interest starts getting charged. including the method of calculation of such charges and the number of days. during marketing. Even where the minimum amount indicated to keep the card valid has been paid. These aspects may be shown in the Welcome Kit in addition to 31 . Hindi and the local language) comprehensible to a card user.e. The late payment charges. at the time of application. should be highlighted and advertised/ sent separately to the prospective customer/ customers at all the stages i. at the acceptance stage (welcome kit) and in important subsequent communications 2. The APR charged and the annual fee should be shown with equal prominence. if different). The manner in which the outstanding unpaid amount will be included for calculation of interest should also be specifically shown with Prominence in all monthly statements.

However. c) The bank / NBFC should not levy any charge that was not explicitly indicated to the credit card holder at the time of issue of the card and getting his / her consent.being shown in the monthly statement. should be stipulated so as to ensure that there is no negative amortization. etc. which may subsequently be levied by the Government or any other statutory authority. d) The terms and conditions for payment of credit card dues. e) Changes in charges (other than interest) may be made only with prospective effect giving notice of at least one month. he may be permitted to do so without the bank levying any extra charge for such closure 32 . If a credit card holder desires to surrender his credit card on account of any change in credit card charges to his disadvantage. this would not be applicable to charges like service taxes. including the minimum payment due.

Use of DSAs / DMAs and other agents a) when banks / NBFCs outsource the various credit card operations.3. the credit card issuing bank / NBFC may consider providing bills and statements of accounts online. documentary evidence to the customer within a maximum period of sixty days with a spirit to amicably redress the grievances. Wrongful billing a) The card issuing bank / NBFC should ensure that wrong bills are not raised and issued to customers. liquidity and operational risks. a customer protests any bill. the bank / NBFC should provide explanation and. b) To obviate frequent complaints of delayed billing. they have to be extremely careful that the appointment of such service providers does not compromise with the quality of the customer service and the bank / NBFC’s ability to manage credit. In case. with suitable security built therefore. if necessary. In the 33 . 4.

privacy of customer information. The bank / NBFC should ensure that the DSAs engaged by them for marketing their credit card products scrupulously adhere to the bank / NBFC’s own Code of Conduct for credit card operations which should be displayed on the bank / NBFC’s website and be available easily to any credit card holder. etc. particularly in the aspects included in these guidelines like soliciting customers. conveying the correct terms and conditions of the product on offer. respect customer privacy. the bank / NBFCs have to be guided by the need to ensure confidentiality of the customer’s records. and adhere to fair practices in debt collection. b) The Code of Conduct for Direct Sales Agents (DSAs) formulated by the Indian Banks’ Association (IBA) could be used by banks / NBFCs in formulating their own codes for the purpose. 34 . hours for calling.choice of the service provider. c) The bank / NBFC should have a system of random checks and mystery shopping to ensure that their agents have been properly briefed and trained in order to handle with care and caution their responsibilities.

clarity relating to rights and obligations. preservation of customer records. an unsolicited card is issued and activated without the consent of the recipient and the latter is billed for the same.Protection of Customer Rights Customer’s rights in relation to credit card operations primarily relate to personal privacy. Right to privacy a) unsolicited cards should not be issued. maintaining confidentiality of customer information and fair practices in debt collection. but also pay a penalty without demur to the recipient amounting to twice the value of the charges reversed. the card issuing bank / NBFC shall not only reverse the charges forthwith. The card issuing bank / NBFC would be responsible as the principal for all acts of omission or commission of their agents (DSAs / DMAs and recovery agents). b) Unsolicited loans or other credit facilities should not be offered to the 35 . I. In case.

the credit sanctioning bank / NBFC shall not only withdraw the credit limit. In case. f) The card issuing bank / NBFC should introduce a system whereby the DSAs/ DMAs as well as its Call Centers have to first submit to the bank / NBFC a list of numbers they intend to call for marketing purposes. The bank / NBFC should then refer to the Do Not Call Registry (DNCR) and only those numbers which do not figure in the Registry should be cleared for calling. Prior consent of the borrower should invariably be taken whenever there is any change/s in terms and conditions. d) The card issuing bank / NBFC should maintain a Do Not Call Registry (DNCR) containing the phone numbers (both cell phones and land phones) of customers as well as non-customers (non-constituents) who have informed the bank / NBFC that they do not wish to receive unsolicited calls / SMS for marketing of its credit card products. an unsolicited credit facility is extended without the consent of the recipient and the latter objects to the same. but also be liable to pay such penalty as may be considered appropriate c) The card issuing bank / NBFC should not unilaterally upgrade credit cards and enhance credit limits.credit card customers. 36 . The DNCR should be set up within two (2) months from the date of this circular and wide publicity should be given to the arrangement e) The intimation for including an individual’s telephone number in the Do Not Call Registry (DNCR) should be facilitated through a website maintained by the bank / NBFC or on the basis of a letter received from such a person addressed to the bank / NBFC.

h) The card issuing bank / NBFC should ensure that the Do Not Call Registry (DNCR) numbers are not passed on to any unauthorized person/s or misused in any manner. I. persistently bothering the card holders at odd hours.g) The numbers cleared by the card issuing bank / NBFC for calling should only be accessed. violation of "do not call" 37 . The bank / NBFC would be held responsible if a Do Not Call Number (DNCN) is called on by its DSAs / DMAs or Call Centre/s.)Banks / NBFCs/ their agents should not resort to invasion of privacy viz..

(ii) Customer confidentiality a) The card issuing bank / NBFC should not reveal any information relating to customers obtained at the time of opening the account or issuing the credit card to any other person or organization without obtaining their specific consent. based on specific legal advice that the information being sought from them is not of such nature as will violate the provisions of the laws relating to secrecy in the transactions. c) Before reporting default status of a credit card holder to the Credit Information Bureau of India Ltd. the bank / NBFC may explicitly bring to the notice of the customer that such information is being provided in terms of the Credit Information Companies (Regulation) Act. Banks / NBFCs would be solely responsible for the correctness or otherwise of the data provided for the purpose. as regards the purpose/s for which the information will be used and the organizations with whom the information will be shared. 2005. banks / NBFCs may ensure that they adhere to a procedure. Banks / NBFCs should satisfy themselves. including issuing of sufficient 38 . B) In case of providing information relating to credit history / repayment record of the card holder to a credit information company (specifically authorized by RBI). (CIBIL) or any other credit information Company authorized by RBI. duly approved by their Board.

The procedure should also cover the notice period for such reporting as also the period within which such report will be withdrawn in the event the customer settles his dues after having been reported as defaulter. Banks / NBFCs should be particularly careful in the case of cards where there are pending disputes. a well laid down procedure should be transparently followed. The Disclosure/ release of information. Personal information provided by the card holder but not required for recovery purposes should not be released by the card issuing bank / NBFC. particularly about the default.notice to such card holder about the intention to report him/ her as defaulter to the Credit Information Company. 39 . These procedures should also be transparently made known as part of MITCs d) The disclosure to the DSAs / recovery agents should also be limited to the extent that will enable them to discharge their duties. should be made only after the dispute is settled as far as possible. In all cases. The card issuing bank / NBFC should ensure that the DSAs / DMAs do not transfer or misuse any customer information during marketing of credit card products.

40 . Leg. 104 /09. b) In particular. referees and friends. 2003) as also IBA’s Code for Collection of dues and repossession of security. banks / NBFCs may ensure that they.07. adhere to the extant instructions on Fair Practice Code for lenders (circular DBOD. either verbal or physical. including acts intended to humiliate publicly or intrude the privacy of the credit card holders’ family members. No. in regard to appointment of third party agencies for debt collection. as also their agents. All letters issued by recovery agents must contain the name and address of a responsible senior officer of the card issuing bank whom the customer can contact at his location. incorporate all the terms of IBA's Code.(iii) Fair Practices in debt collection a) In the matter of recovery of dues.007 / 2002–03 dated May 5. it is essential that such agents refrain from action that could damage the integrity and reputation of the bank / NBFC and that they observe strict customer confidentiality. making threatening and anonymous calls or making false and misleading representations. at the minimum. against any person in their debt collection efforts. c) Banks / NBFCs / their agents should not resort to intimidation or harassment of any kind. BC. In case banks / NBFCs have their own code for collection of dues it should.

address and contact number of important executives as well as the Grievance Redresses Officer of the bank / NBFC may be displayed on the website.6. There should be a system of acknowledging customers' complaints for follow up. Redresses of Grievances a) generally. The name and contact number of designated grievance redresses officer of the bank / NBFC should be mentioned on the credit card bills. a time limit of sixty (60) days may be given to the customers for preferring their complaints / grievances. b) The card issuing bank / NBFC should constitute Grievance Redresses machinery within the bank / NBFC and give wide publicity about it through electronic and print media. c) The grievance redresses procedure of the bank / NBFC and the time frame fixed for responding to the complaints should be placed on the bank / NBFC's website. designation. 41 . The name. even if the complaints are received on phone. The designated officer should ensure that genuine grievances of credit card subscribers are redressed promptly without involving delay. such as complaint number / docket number.

Internal control and monitoring systems With a view to ensuring that the quality of customer service is ensured on an on-going basis in banks / NBFCs. financial loss as well as for the harassment and mental anguish suffered by him for the fault of the Bank and where the grievance has not been redressed in time. 7. he will have the option to approach the Office of the concerned Banking Ombudsman for redresses of his grievance/s. credit card related complaints and take measures to improve the services and ensure the orderly growth in the credit card operations. 8. the Standing Committee on Customer Service in each bank / NBFC may review on a monthly basis the credit card operations including reports of defaulters to the CIBIL. Right to impose penalty 42 . Banks / NBFCs should put up detailed quarterly analysis of credit card related complaints to their Top Management. expenses. The bank / NBFC shall be liable to compensate the complainant for the loss of his time.d) If a complainant does not get satisfactory response from the bank / NBFC within a maximum period of thirty (30) days from the date of his lodging the complaint. Card issuing banks should have in place a suitable monitoring mechanism to randomly check the genuineness of merchant transactions.

Different Types of Credit Cards 43 .The Reserve Bank of India reserves the right to impose any penalty on a bank / NBFC under the provisions of the Banking Regulation Act. 1949 for violation of any of these guidelines.

credit card customers enjoy more options and choices than ever before. every one has to select credit cards on the basis of the pros and cons of each type of credit card and at the same time the nature of use. If you are looking for the right card. To gain new customers. credit card companies compete by offering new services and cards to customers.Different Types of Credit Cards Credit cars are of various types. you can begin by considering the many types of cards available to you: Low Interest Credit Cards 44 . chances are good that there is a card out there that would be ideal for you. No matter what your needs. This article gives an insight into the several types of credit cards available in the market Today.

The idea behind this type of credit card is that once you fill out your application. Instant approval credit cards are very popular online and applicants can apply via the internet or over the phone. you will begin paying higher interest rates. The reasons for this are numerous. Instant Approval Credit Cards These cards are really a product of our fast-paced society. these cards just charge a few percent interests. The approval process only takes a few minutes. you will be told whether you are approved or not right away. more time is needed to process your application. In some cases. In most cases. Another drawback to these cards is that they rely heavily on your credit score.sometimes. If you need to consolidate debts or if you like the idea of having low interest for a while. Check your agreement to find out what type of card you have. After a set number of months. the low interest rate is for a limited time only. this type of credit card can be perfect for you. these types of cards may not be for you.they are debit cards linked to a low-interest loan such as a line of credit. If you are very impatient or need credit right away. Balance Transfer Cards 45 . low interest credit cards are not really credit cards at all . these types of cards can be for you. If you have poor credit or any extenuating financial circumstances. you should be aware that these cards do not guarantee that you will be approved right away . However.These types of credit cards offer very low interest. In some cases.

Some cards even offer customers extra automatic-enter sweepstakes and draws.Balance transfer cards are a type of temporary low-interest card that is meant to help you consolidate your debt. and other fun prizes. you can quickly repay your bills. Rewards Credit Cards Rewards credit cards offer you points. Companies know that customers love rewards and prizes and so offer these enticements to lure customers. However. As you accumulate rewards or points. The major advantage of these cards is that 46 . you are entered into a draw to win specific prizes. rewards. some cards have high fees. Since the new card has a low interest rate. you can redeem your bonus for entertainment events. if you run up your other cards after consolidating your debts or if you are unable to pay off your new card in the limited time before the low interest rate increases. It offers the convenience of one bill and low rates. Each time you use your card. These types of cards are really a marketing tool for card companies. You then transfer all your credit card debt onto the new card and work to pay it off. Also. or bonuses for every cash purchase made with your credit card over time. travel. If you are in debt. you may find yourself even more in debt than before. They work this way: if you have several credit cards with a balance. you can get a balance transfer card. purchases. a balance transfer card can be a great way to get out of debt.

meaning that you need to spend a lot with your credit card to get any rewards at all. Some also have very low points systems. you get cash back. Read the fine print carefully before signing. Some charge high fees to offset the costs of the bonuses. However. Some cards have low cash-back 47 . not all reward credit cards are a deal. They can also be fun and rewarding for almost any credit card customer. you can get back about 1% of your total purchases. Cash Back Credit Cards Cash back credit cards give you money rewards.they can help you get more cash value for your money. When you accumulate enough points. These cards are great for those who are budget-conscious as they give you some money back from your purchases. However. you get some points based on the amount of money you have spent with your credit card. When you make a purchase with this type of credit card. there are several drawbacks to these types of cards. On most cards.

If you decide this card is right for you.percentage rates. do compare several card offers to find the best cash back credit card option. Instead. Some charge high fees or have limits on how much money you can get back each year. then. this card can help you accumulate points for a free trip or for a discount ticket. these cards can also charge high fees. some airline credit cards make use of a point system that is not very user-friendly. If you do not love to travel and if you do not use your Credit card a lot. Airline Credit Cards This type of card allows you to accumulate frequent flyer points on all your credit card purchases. your ability to get rewards you like may be very limited. However. Most cards only offer you cash back advantages on purchases . When you add more money.not on your balance. since you are not getting credit or loans from the credit card company. You can then use your card to charge any amount up to the amount in the account. You may have to slowly accumulate an enormous amount of points to qualify for a trip. you 48 . Prepaid Debit Cards These cards are sometimes called junior credit cards. They are not truly credit cards at all. these cards are great because they allow you to gather points for every purchase. In some cases. In many cases. these cards work by having you deposit some money into the card account. If you travel a lot or love to travel. Worse. your points will expire if you do not use them within a specified time.

These cards generally have very low credit limits and charge extra fees. They are also easier to apply for. If you have a bad credit rating. you can enjoy credit card convenience even if you do not qualify for traditional cards. Credit Cards for Bad Credit Bad credit credit cards are designed for people with poor credit histories. Secured Credit Cards Secured credit cards use collateral to ensure that the card company will be paid back. Often. Student Credit Cards Student credit cards are cards meant to attract college and university students. These cards often offer sign-up bonuses for students. you will also have to cope with the additional fees and low credit limits that these credit cards have. these types of credit cards can be a great way to rebuild your credit history.can charge more to your card. these cards are used by people with no credit or bad credit. With secured credit cards. These cards can also allow you to have credit even if you would be rejected for most other cards due to your credit history. This is because they are designed for people who are considered far less likely to repay their debts. since credit card companies recognize that students have 49 . However.

much shorter credit histories than the average customer. 50 . However. Business Credit Cards Business credit cards are created especially for business use. and services that let you keep your personal and business expenses separate on the same card. They offer many of the same advantages as traditional credit cards. there are some disadvantages to student credit cards. but also offer services that can really help a business. than other cards. With some business credit cards. These cards may have no reward programs and may have fewer benefits. These advantages mean that using this card for your business is more convenient. They are simple to use and can help you build a good credit rating before you graduate. you can enjoy higher interest rates. monthly reports on your expenses. extra cards for business employees. student credit cards can be a great option. including fewer bonuses and services. If you are a student. for example.

51 .

Types of Credit Cards offered By Indian Banks 52 .

because of lower prestige when compared to gold and platinum cards. less rewards and promotional packages. Silver credit cards come with advantages such as lower annual membership fees if there is any. One would be the lower cash advance limits.Types of Credit Cards offered by Indian Banks Silver Cards Silver credit cards rank lowest among the metal named cards. Silver credit cards will provide you with almost the same credit limit as other cards provided you have a good credit history. are commonly known as basic and standard credit cards. and. HDFC Bank. ICICI offer silver credit cards through their HDFC Bank Silver cards and ICICI Sterling Silver credit card 53 . There are also some disadvantages to using silver credit cards. and a lower threshold salary which banks use to evaluate your application in case you should apply. You can also avail of 0% interest balance transfer schemes which are made available for a period of 6-9 months for silver card holders. and less travel perks compared to gold and platinum cards.

You can also engage in some loyalty schemes that are offered for gold and platinum credit card holders which can sometimes involve cash back promos and reward points systems. Also try to talk to your friends who are having credit cards to get more info. bringing prestige since getting gold and platinum cards usually require that you have good credit rating and a higher income levels. and purchase protection insurance. you also get better perks and privileges such as travel insurance. and the ICICI Solid Gold Credit Card.Gold and Platinum Cards Gold and platinum credit cards are a status symbol for any credit card holder. Gold and platinum cards offer higher limit for cash advance withdrawals and sometimes can provide higher credit limits as compared to standard or silver cards. If you have a gold or platinum card. extended warranties for appliance purchases and special deals on specific products. Some popular gold and platinum cards available are the American Express Gold card. It is not possible to cover them the exact offerings of these cards but I will highly advice you to check all these websites of the banks to get all the info about the credit cards they are offering. 54 .

debit cards are used widely for telephone and Internet purchases and. the funds are transferred immediately from the bearer's bank account instead of having the bearer pay back the money at a later date. 55 . the cards are designed exclusively for use on the Internet. and so there is no physical card. acting as the ATM card for withdrawing cash and as a cheque guarantee card. Debit cards may also allow for instant withdrawal of cash. in some instances. Functionally.CHAPTER 2 DEBIT CARD A debit card (also known as a bank card or check card) is a plastic card that provides an alternative payment method to cash when making purchases. Like credit cards. Merchants may also offer cash back facilities to customers. it can be called an electronic cheque. unlike credit cards. In many countries the use of debit cards has become so widespread that their volume of use has overtaken the cheque and. as the funds are withdrawn directly from either the bank account or from the remaining balance on the card. cash transactions. In some cases. where a customer can withdraw cash along with their purchase.

Some on-line debit systems are using the normal authentication processes of Internet banking to provide real-time on-line debit transactions. essentially becoming enhanced automatic teller machine (ATM) cards. Overall. which alleviates problems with processing lag on transactions that may only issue online debit cards. One difficulty in using online debit cards is the necessity of an electronic authorization device at the point of sale (POS) and sometimes also a separate PIN pad to enter the PIN. The most notable of these are Ideal and POL Offline Debit System 56 . The transaction may be additionally secured with the personal identification number (PIN) authentication system and some online cards require such authentication for every transaction. although this is becoming commonplace for all card transactions in many countries. the online debit card is generally viewed as superior to the offline debit card because of its more secure authentication system and live status.Types of debit card systems Online Debit System Online debit cards require electronic authorization of every transaction and the debits are reflected in the user’s account immediately.

not in an externally recorded account. while a small fee may be charged for a "debit" or online debit transaction (although it is often absorbed by the retailer). a "credit" or offline debit transaction is without cost to the purchaser beyond the face value of the transaction.g. all current bank cards now include electronic purses.g. Visa or MasterCard) or major debit cards (e. Other differences are that online debit purchasers may opt to withdraw cash in addition to the amount of the debit purchase (if the merchant supports that functionality). Maestro in the United Kingdom and other countries. In Austria and Germany. the Netherlands (Chipknip). Transactions conducted with offline debit cards require 2–3 days to be reflected on users’ account balances. but not the United States) and are used at the point of sale like a credit card (with payer's signature). from the merchant's standpoint.Offline debit cards have the logos of major credit cards (e. Austria (Quick). Belgium and Switzerland (CASH). the merchant pays lower fees on online debit transaction as compared to "credit" (offline) debit transaction Electronic Purse Card System Smart-card-based electronic purse systems (in which value is stored on the card chip. most notably in Germany (Geldkarte). In some countries and with some banks and merchant service organizations. so that machines accepting the card need no network connectivity) are in use throughout Europe since the mid-1990s. 57 . This type of debit card may be subject to a daily limit. also. and/or a maximum limit equal to the current/checking account balance from which it draws funds.

The payer loads funds to the cardholder's card account. Prepaid debit cards use either the offline debit system or the online debit system to access these funds. outsourced services (odes). [ Whereas. web-based services such as stock photography websites (stockpot).Prepaid Debit Card Prepaid debit cards. also called reload able debit cards or reload able prepaid cards. are often used for recurring payments. prepaid debit cards allow the delivery of international payments without the delays and fees associated with international checks and bank transfers. Particularly for companies with a large number of payment recipients abroad. Providers include Caxton FX prepaid cards. 58 . [ Escape prepaid cards and Travelex prepaid cards. and affiliate networks (Media Whiz) have all started offering prepaid debit cards for their contributors/freelancers/vendors.

We can use our debit card to withdraw Cash from over 59 . 100/.and a maximum Rs. we don’t need to stock up on Traveler’s Cheques or cash. If we qualify to open a bank account. the ban does not need to look into our credit history. All we need is the documentation to open a bank. we are an international traveler.BENEFITS OF DEBIT CARDS The following are the benefits of the debit card services FREE WITH OUR BANK ACCOUNT Obtaining a debit card is easy. CASH WITHDRAWALS The customer can withdraw a minimum of Rs. and money in our bank when we use our debit card. if our bank offers the service. NO BACKGROUND CHECK When we are applying for a debit card.10. we usually get a debit card. 000/. account.per day CONVENIENCE A Debit card fees us from carrying a lot of cash or a cheque book. In case.

You can also withdraw cash from any of the 12000 ATMs in India. the amount is credited to our account. for on-line transactions. FAIR EXCHANGE If we return merchandise or cancel services paid for with a Debit card. WIDELY ACCEPTED. For example. INTERNATIONALLY VALID 60 . a mini statement containing the last four transactions and balance can be obtained at a State Bank Group during the working hours of the customer’s branch.500. and Business Travel Quota (BTQ) limit arability. We can withdraw in the local currency of the country we are in. limited only by the money we have back home in our account. Customers usually get cash back for offline purchases. the transaction is treated as if it were made with cash or a check. STATEMENT OF ACCOUNT A statement of transactions can be obtained from the customer’s branch. as well as for making purchase at merchant locations. BANKING CUM SHPPING CARD Your Debit card can be used as ATM card at any ATM across the world.000 ATMs around the world in over 100 countries.

FEATURES OF DEBIT CARD The following are features of Debit cards A) It is a combination of a Cheque and ATM card. B) The Debit Card services in meant for withdrawals against the balance already available in the designated account. C) It is the card holder’s obligation to maintain sufficient balance in the designated account to meet withdrawals and service charges. E) No credit check is required to get a Debit card. F) Use of card is terminated without notice. G) Spending is limited to our bank balance. Therefore. 61 . there are no fees for using the ATM for cash withdrawal. Our bank account is debited immediately. We just our bank account for all our transactions. No credit period. D) A Debit card is more affordable than credit card. or as a debit card for purchase. bankruptcy or insolvency of the cardholder or for other valid reasons. upon the death.

DRAWBACKS OF DEBIT CARDS NO GRACE PERIOD A) Unlike a credit card. 62 . debit card transactions are on a “pay now” basis LIMITED PROTECTION B) Using a debit card may mean we have less protection than we would have with a credit card for undelivered or defective goods.

63 .

online and offline. If you don’t process debit cards. you may not be taking full advantage of all the potential that your merchant account can deliver. This is essentially the same as processing credit cards. If you choose to accept debit cards offline. be sure that the debit card has a VISA or MasterCard logo. the debit card won’t be approved and you won’t be able to process the debit card offline 64 . Otherwise. You swipe your customer’s debit card through a credit card terminal and have them sign the receipt. Off line debit card transactions An offline debit card transaction is still the way most merchants accept debit cards. There are essentially two ways you can accept debit cards.Process Debit Card Transactions A successful business will usually accept debit cards as a part of their overall profile of payment solutions.

instead the flat fee plus percentage rate that you are charged when you accept credit cards. An online debit card transaction works much like a credit card transaction. Another advantage when you process debit cards is that you can’t be charged higher “downgrade” fees. At this point the encrypted debit card information is sent to the customer’s bank for authorization. you pay a flat fee for each debit card transaction that you process. For example. 65 . In a credit card transaction.” However. Over time. except that after your customer swipes his or her debit card. but you will need to install a PIN pad on your credit card terminal.Online debit card transactions The most advantageous way to process debit cards is to do it online. Your business has many advantages when you accept debit cards. you are usually charged the “discount rate. they will enter a PIN instead of signing the receipt. this can potentially save you a lot of money. and you’ll receive the funds just as you would for a credit card transaction. You will still be able to accept debit cards at the point of sale. some transactions are considered to be a higher risk or expense to the bank. and you are charged a higher rate as a result.

you’re losing 100 minutes a day just passing a pen back and forth! That’s almost two hours 66 . If you process 20 credit card transactions a day. with no danger of the rate increasing. you always pay the same flat rate. It takes an average of 30 seconds to hand over the pen. and then take the pen back. You can also cut down on checkout time when you accept debit cards. wait for the customer to sign the receipt.But when you accept debit cards.

In the past. Loss of Multiple Cards 6. Unsigned Credit Cards 5. but they can turn into nightmares in the wrong hands. Plastic cards bring new convenience to your shopping and banking. Strange Requests for Your PIN Numbers 7. Legitimate Cards 8. Discarded Charge Slips 4. Stolen Cards at the Office 2. This pamphlet describes credit and debit cards and some common schemes involving card fraud with tips to help you avoid them The following are the types of frauds 1. Extra Copies of Charge Slips 3. this type of fraud was not very common. Counterfeit Cards New Technology 67 . Altered Cards 9.Plastic Fraud State-of-the-art thieves are concentrating on plastic cards. it is a big business for criminals. Today.

or counterfeit credit and debit cards. Some of the innovations are already in use. laser produced optical device that changes its color and image as the card is tilted. Fine-line printing – A repeated pattern of the card company name positioned as background for the company logo. These security features have been added to major credit cards: Holograph – A three-dimensional. alter. Ultra-violet ink – Special ink that is visible only under ultra-violet light. 68 .New technology is making it more difficult for criminals to use. which will display the credit card company's logo.

57 0.45 Mn Mn Mn Mn Mn Mn Mn Mn Mn Data Courtesy .495 0.The Reserve Bank of India 69 . ICICI HDFC SBI Citibank HSBC ABN Axis Deutsche American Bank Bank Cards Cards Amro Bank Bank Express 5.54 1.65 2. Credit Card is either Visa or MasterCard which is the The Top 10 Credit Card Issuers in India are as follows.78 0.3 0.42 2.Credit Most popular and in Card some instance American Data: Express.07 4.

hassle-free shopping. You get credit by promising to pay in the future for something you receive in the present. They can get you through nearly any emergency situation. A credit card also simplifies and speeds up catalog ordering and currently is virtually the only way to make Internet purchases. take out a loan to buy a house. you don't have to carry a lot of cash. Credit usually costs something. pay by check. or present additional identification. pay for an appliance on an installment plan. Credit allows you to make a purchase without ready cash. When you use a credit card to make a purchase. A credit card enables you to buy things now and pay for them later. The reason for the neediness of credit Convenient. 70 . Emergency help. Meaning of credit card Credit is a privilege and a convenience. Credit cards are the ultimate financial security blanket. and what is borrowed must be paid back. or pay for schooling. 2. Credit lets you charge a meal on a credit card.CHAPTER 5 QUESTIONNARIES 1.

Reason to establish a good credit history Establishing a good credit history is an important part of your personal and financial future. Credit cards also allow you to take advantage of sales and special offers. revolving lines of credit. you can make purchases and pay them off on a schedule that fits your budget. 3. 4. Banks and other lenders consider your credit report when reviewing applications for mortgages. Landlords sometimes use credit reports to decide among rental applicants. A variety of people and businesses make decisions affecting your future that are based on your credit history. Debit Cards are mostly issued in collaboration either with VISA or MasterCard. It can help open doors for you or keep them locked. 71 . or other loans. And a potential employer may even assess an applicant's credit report before extending a job offer.Easier budgeting. With a credit card. which allows the holder to withdraw cash from ATMs and also enables him to purchase goods or services from the member establishments. Meaning of debit card Debit Card is an electronic purse.

& multiple options for customer. 72 . The strategy should be to emphasize on its differentiating characteristics. etc have created a win-win situation by extending great convenienence. Technology intensive delivery channels like net banking. banks have been using technology to reduce cost & enhance efficiency. mobile banking. As internet is growing at a fast rate the net users can be targeted by having interactive sites. From educating customers about credit cards there is a need to educate them about the differentiating factors of the cards. They also need to identify potential customers and target those using mailers. rising customer expectations & shrinking margins. The prospective company’s card personality could also be used in the home page to solve customer queries in the ‘Best Possible Manner’. productivity & customer convenienence.CONCLUSION 21ST Century banking has become wholly customer-driven & technology driven by challenges of competition. Because visa and master card are advertising regularly and thereby increases awareness.

YAHOO.GOOGLE.ORG 73 .COM WWW.COM WWW.RBI.BIBLIOGRAPHY BOOKS INOVATION IN BANKING & INSURANCE FINANCIAL MARKET & SERVICES INDIAN BANKING INDUSTRIES INDIAN BANKING TIMES OF INDIA NEWS PAPER (30TH AUG 2007) WEBSITE WWW.

Sign up to vote on this title
UsefulNot useful