THE RESERVE BANK OF INDIA HAS ISSUED A CIRCULAR TO ALL THE FINANCIAL INSTITUTIONS WHO ARE IN THE CREDIT CARD BUSINESS THAT THE PAYMENT DUE DATE AND THE LEVY OF LATE PAYMENT FEE OR PENAL CHARGES WILL BE AND MUST BE 3 DAYS AFTER THE DUE DATE MENTIONED IN THE CREDIT CARD STATEMENT.
THE RESERVE BANK OF INDIA NOTIFICATION :
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