The Reserve Bank of India (RBI) recently changed its regulations to make it easier for cardholders to manage credit card payments. Now, they can adjust the billing cycles and due dates of their credit cards.
Credit card companies have been directed by the RBI to permit customers to switch their credit card billing cycle “at least once.” The ‘Master Direction – Credit Card and Debit Card Issuance and Conduct Directions, 2022’ was amended on March 7, 2024, with the intention of providing cardholders with flexibility by allowing them to modify their billing cycle as per their convenience.
The clause used to say that cardholders would have a one-time choice to…
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Source: https://www.mypunepulse.com/new-rbi-guidelines-regarding-changes-in-credit-card-billing-cycle/