Page 97 - DMGT303_BANKING_AND_INSURANCE

Banking and Insurance

Notes Billing

The card issuing bank/NBFC should ensure that wrong bills are not raised and issued to
customer.

In case, a wrong bill is issued and the customer protests, they should provide an explanation
and, if necessary, documentary evidence to the customer within a maximum period of
sixty days.

To obviate frequent complaints of delayed billing, the credit card issuers should consider
providing bills and statements of accounts on-line.

Direct Selling Agents (DSAs)

When outsourcing the various credit card operations, banks/Non Banking Financial
Companies (NBFCs) should be extremely careful that the appointment of such service
providers does not compromise with the quality of customer service.

They should ensure that the DSAs maintain confidentiality of the customer’s records,
respect customer privacy and adhere to fair practices in debt collection. They would be
responsible as the principal, for all acts of omission or commissions of their DSAs and
recovery agents.

5.4 Customer Rights

Right to Privacy

Credit card issuing banks/NBFCs should ensure that:
Unsolicited cards are not issued. In case an unsolicited card is issued and activated without
the consent of the recipient and he/she is billed for it, the charges are reversed forthwith
and also a penalty without demur to the recipient amounting to twice the value of the
charges reversed is paid.
Unsolicited loans or other credit facilities are not offered to credit card customers. In case
an unsolicited credit facility is extended without the consent of the recipient and he/she
objects to it, the credit limit is withdrawn and a penalty as considered appropriate is paid.

Credit cards are not upgraded and credit limits enhanced, unilaterally.
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
them that they do not wish to receive unsolicited calls/SMS for marketing of their credit
card products is maintained.
The intimation for including an individual’s telephone number in the DNCR is facilitated
through their website or on the basis of a letter received from such a person.
The list of numbers their DSAs/DMAs as well as call centres intend to call for marketing
purposes should be obtained and after referring to the DNCR only those numbers which
do not figure in the Registry should be cleared for calling. 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.

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