A good discussion read. 1 There is no restriction for any card issue at all by the RBI. 2 Banks do not like to issue because they do not like prompt payers and at this age you cannot be a defaulter. 3 If you ask the bank they will not show any rules of banking reg act why? 4 Do you ever ask them whether they are credit worthy? 5 What is the lean they would give for return of deposits or what lean they took on uncollectibles and written off debts? 6 So why do you go for Banks who do not respect you? 7 Why you want to make long term dep while renewal or redeposits every year gives you freedom. 8 While considering income, not only banks but many NBFCs, also do not consider your interest income as income for evaluation; even when you file copy of IT return, Banks will exclude that; while an agricultural income fabricated is considered for evaluation;Many politicians salary is very low; yet their perks are considered for evaluation; what regular income sachin tendulkar will have?; nothing except shares, investments and some company directorship income only. But Cr card is issued with 7 digits limits. That means financial institutions adopt different standards in which as FM can only tax the middle class salary, so also FIs, wants deposits from you; play their cards so grotesque, they issue overdraft cr cards; they refuse to consider interests income on the argument that you may silently withdraw; while ag lands and business man bldgs can also be clandestinely pledgeable , they will ignore. Banks feel recovery sitting from their rooms as attachments , will drive one and enforce collections. Whatever they cannot do like Income Tax 226 (3), but only by long drawn battle (it is ok if lands and bldgs drag for years) they avoid. Banks' inaction to act, is the soul reason; where there are refined people there things change. But we as a whole shall react. We fall prey to them. How star health bent the rules. There are no constitutional restrictions; make them bend. K R IRS 15824
On Thu, 15 Aug 2024 at 06:32, 'gopala krishnan' via KeralaIyers < [email protected]> wrote: > Dear Mr Sekar, > > Thank you for the response. > > Now credit cards are more safe. Only we have to keep the card near the > hand held machine. > If at all lost, and another pick up, and use, only small amount is lost. > By the time we can block the card. > > It helps during emergency. After credit card is used, we can use debit > card-hot cash. > > Further nowadays once the card is used irrespective of debit/credit , we > get messages with intimation to block the card (Phone number) if necessary. > > Above this the Bank of Baroda credit card urges to pay the card *when 25% > of amount limit is used.* I do not know it is with other bank credit > cards. > Gopalakrishnan > > On Thursday, 15 August, 2024 at 03:57:41 pm IST, Rangarajan T.N.C. < > [email protected]> wrote: > > > How is credit card better than debit card? > > Why are credit cards better than debit cards? - Paisabazaar.com - 15 > August 2024 > <https://www.paisabazaar.com/credit-card/why-are-credit-cards-better-than-debit-cards/> > > Why are credit cards better than debit cards? - Paisabazaar.com - 15 Aug... > > Know why are credit cards better than debit cards? Read in detail about > credit card vs debit card along with the... > > <https://www.paisabazaar.com/credit-card/why-are-credit-cards-better-than-debit-cards/> > > > > On Thursday, 15 August, 2024 at 01:44:34 pm IST, N Sekar < > [email protected]> wrote: > > > Dear Sri G K, > > Thanks. > > Happy Independence day to all my fellow, Patriotic Indians. > > Vazhka Bharatham Velka Bharatham Bharat Mata ki Jai. > > I am not 80 years old but can confirm what you have written. > > HDFC Bank has given credit cards to me and my wife, on a lien with our FD > with them. The limit is about 70 % of the FD. > > The bank officials said since I don't have a regular income (salary, > pension etc.) they need a security deposit and the lien will be lifted a > few weeks (app. 4 to 5 weeks as they need to ensure there are no pending > transactions) after we surrender our cards. Until then we need to keep the > FD and the renewed ones, with them. And I can understand their position. > > Of course, we use only our debit cards mainly but for major purchases, use > the credit cards. > > N Sekar > > > On Thursday, August 15, 2024 at 05:47:14 AM GMT+4, Rajaram Krishnamurthy < > [email protected]> wrote: > > > Leaning on FD is a fraud; Indus they do it. Credit card is not a prestige > but an accountability of the credit worthiness. And Cr cards for senior > citizens , capable of taking care must be issued compulsorily since > carrying cash is avoided or even holding a cheque book. And auto deduction > is a forced one which shall not be accepted. Don't Sr citizens know when to > act and stop? I still hold a driving licence but I dont do self driving. > Rent cars are there as well as drivers are available on hire. As a matter > of fact the automobile companies' laborers , if we know them, are willing > to serve us applying for leave as they can earn. INDEED A PERCEPTION OUT OF > MINDS. KR IRS > > On Wed, 14 Aug 2024 at 20:21, gopala krishnan <[email protected]> wrote: > > Sirs, > > I think the condition has changed . Last week, the Manager of a > nationalized bank was talking about their credit cards , offering to me. I > am 80 years. But I was already having their credit card for a *small > value*, as desired by me. I intimated him. > > *Present days they make a lean to any fixed deposit equal to the value of > credit card limit . *Earlier it was not so. > > I am having an international bank credit card, but my account is zero > balance account with them. The card was issued without any lean to account > in *1997* and I continue till date. I opened the account with the bank > later, permitting automatic deduction. > > When the bank raised *minimum balance to 5 lakhs from 3 Lakhs*, I > changed my account to zero balance account. > Gopalakrishnan > > > On Thursday, 15 August, 2024 at 06:26:48 am IST, Rajaram Krishnamurthy < > [email protected]> wrote: > > > Dear all > > Some time back I wrote the discrimination to senior citizens ,in > one of which I spoke about the Cr cards issue. Now the issue is before > Parliament k Rajaram IRS 14824 15824 > > மூத்த குடிமக்களுக்கு கிரெடிட் கார்டுகளை தர வங்கிகள் தயங்குவது ஏன்? > > Updated: Wednesday, August 14, 2024, 9:16 [IST] > > இன்றைய உலகில் கிரெடிட் கார்டுகள் மிகவும் அத்தியாவசியமானவை ஆகும். கிரெடிட் > கார்டுகள் அவசரகாலத்தில் நிதி தேவைகளை பூர்த்தி செய்வதோடு மட்டுமல்லாமல் > பல்வேறு கவர்ச்சிகரமான தள்ளுபடிகள், சிறப்பு சலுகைகளையும் அளிக்கிறது. > வங்கிகள் பல சலுகைகளை கிரெடிட் கார்டுதாரர்களுக்கு வழங்குகின்றன. ஆனால் இந்த > வசதி முதியவர்களுக்கு தரப்படவில்லை. > > மூத்த குடிமகன்கள் என்றில்லாமல் வங்கிகள் பொதுவாக நம்பக்கூடிய வருவாய் > உடையவர்களுக்கு இந்த கிரெடிட் கார்டுகளை தருகின்றன. கிரெடிட் கார்டுகள் > என்பது பாதுகாப்பற்ற கடன்களாக கருதப்படுகின்றன. காரணம் இதன் மூலம் > அளிக்கப்படும் கடன்களுக்கு ஈடாக எந்த அடமானத்தையும் பெறுவதில்லை. கார்டு > பெறுபவர்கள் உரிய நேரத்தில் பணத்தை செலுத்தி விடுவார்கள் என்ற நிலை இருந்தால் > அவர்களுக்கு கிரெடிட் கார்டுகள் வழங்கப்படுகின்றன. > > மூத்த குடிமக்களுக்கு கிரெடிட் கார்டுகளை தர வங்கிகள் தயங்குவது ஏன்? > > முதியவர்களைப் பொருத்தவரை வங்கிகள் அவர்களை அதிக அபாயம் உள்ளவர்களாகக் > கருதுகின்றன. ஓய்வு பெற்ற பின்னர் நிலையான வருமானம் இல்லாதவர்கள் தங்களது > கடனை திரும்பச் செலுத்துவதற்கு சிரமப்படுவார்கள். இதனால் முதியவர்களுக்கு > வங்கிகளால் கிரெடிட் கார்டு தருவதற்கு சிக்கல் ஏற்படுகிறது. > > மூத்த குடிமகன்களுக்கு கிரெடிட் கார்டு தருவதற்கு ரிசர்வ் வங்கி எந்த > விதிகளையும் உருவாக்கவில்லை. இருந்தாலும் 60 வயதுக்கு மேலானவர்களுக்கு கடன் > தருவது அபாயத்தை விளைவிக்கும் என்று ரிசர்வ் வங்கி நெறிமுறைகளில் > குறிப்பிடப்பட்டுள்ளது. > > இதன் விளைவாக 60 வயதுக்கு மேற்பட்டவர்களுக்கு கிரெடிட் கார்டுகளை தருவதற்கு > வங்கிகள் அலட்சியம் காட்டுகின்றன. அதற்கு பதிலாக அவர்களுக்கு டெபிட் > கார்டுகளை தருகின்றன. > > கிரெடிட் கார்டுகளை வழங்குவதற்கான குறைந்தபட்ச மற்றும் அதிகபட்ச வயதுக்கு > வங்கிகள் வெவ்வேறு அளவுகோல்களை பின்பற்றுகின்றன. எடுத்துக்காட்டாக, > ஹெச்டிஎப்சி வங்கி விண்ணப்பதாரர்களுக்கு குறைந்தபட்சம் 21 வயது இருக்க > வேண்டும், சம்பளம் பெறும் நபர்களுக்கு அதிகபட்ச வயது 60 மற்றும் வணிக > உரிமையாளர்களுக்கு 65 வயது என நிர்ணயித்துள்ளது. பாரத ஸ்டேட் வங்கியின் > இணையதளத்தின்படி, கிரெடிட் கார்டு விண்ணப்பதாரர்களின் வயது வரம்பு 21 முதல் > 70 ஆண்டுகள் ஆகும். > > விண்ணப்பதாரர்கள் சம்பளம் பெற்றவர்களாக அல்லது சுயதொழில் செய்பவர்களாகவும் > நல்ல கிரெடிட் ஸ்கோரையும் பெற்றிருக்க வேண்டும். மூத்த குடிமக்களுக்கு > கிரெடிட் கார்டு மறுக்கப்பட்ட விவகாரம் மாநிலங்களவையிலும் கொண்டு வரப்பட்டது. > > காங்கிரஸ் எம்.பி. ரேணுகா சவுத்ரி பூஜ்ய நேரத்தின் போது இந்த பிரச்சனையை > எழுப்பினார், வங்கிகள் 60 வயதுக்கு மேற்பட்டவர்களிடமிருந்து டெபாசிட்களை > ஏற்கத் தயாராக இருந்தாலும், அவர்களுக்கு கிரெடிட் கார்டுகளை வழங்க > மறுக்கின்றன. இந்த விதி பாரபட்சமானது என்றும், அதை உடனடியாக ரத்து செய்ய > வேண்டும் என்றும் அவர் வாதிட்டார். > > Why are banks reluctant to give credit cards to senior citizens? > > Updated: Wednesday, August 14, 2024, 9:16 [IST] > > Credit cards are very essential in today's world. Credit cards not only > meet financial needs in emergencies but also provide various attractive > discounts and special offers. Banks offer many benefits to credit card > holders. But this facility is not provided to senior citizens. > > Banks generally offer these credit cards to people with reliable income, > not just senior citizens. Credit cards are considered unsecured loans. This > is because no collateral is obtained against the loans provided through it. > Credit cards are issued to cardholders on the condition that they make > timely payments. > > Why are banks reluctant to give credit cards to senior citizens? > > As far as senior citizens are concerned, banks consider them to be high > risk. Those who do not have a fixed income after retirement may find it > difficult to repay their loans. This makes it difficult for banks to give > credit cards to senior citizens. > > RBI has not made any rules for giving credit cards to senior citizens. > However, RBI norms state that lending to people above 60 years of age is > risky. > > As a result, banks are reluctant to give credit cards to people over 60 > years of age. Instead they give them debit cards. > > Banks follow different criteria for minimum and maximum age for issuing > credit cards. For example, HDFC Bank has set a minimum age of 21 years for > applicants, 60 years for salaried individuals and 65 years for business > owners. According to the website of State Bank of India, the age limit of > credit card applicants is 21 to 70 years. > > Applicants must be salaried or self-employed and have a good credit score. > The issue of denial of credit cards to senior citizens was also brought up > in Rajya Sabha. > > Congress MP Renuka Chowdhury raised the issue during Zero Hour when banks > were willing to accept deposits from people above 60 years of age, but > refused to issue credit cards to them. He argued that the provision was > discriminatory and should be repealed immediately. 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