LAW FOR CREDIT CARD PAYMENTS :: FM..!

Last updated: 27 August 2007

The government is planning to bring a new law to regulate credit card payment.

While replying to a question regarding credit card problems, Finance Minister P Chidambaram told the Lok Sabha that such a move is in the offing. In his question, CPI(M) MP Rupchand Pal had stated that ATM transactions and debit card services are directly given by banks.

But in the case of credit cards, there are other agencies involved. Pal wanted to know why there are no concrete steps to oversee these agencies and credit card transactions.


CA.Saibaburao Nanduri

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Finance news reporter covering taxation, GST, income tax, business compliance, and economy updates. I simplify complex financial topics into easy-to-understand articles for professionals, taxpayers, and business owners on leading finance and tax platforms.

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