[Resolved]  State Bank of India — CREDIT CARD NOC NOT RECEIVED.OF CARD NO.[protected]

Violation of RBI guidelines by SBI Cards and Payment Services Ltd.

Numerous citizens have been victims of fraudulent and unfair parctices by SBI Cards and payment Services Ltd., Gurgaon. A large numbers of common men are being entrapped by SBI Card whereby the customers are being subjected to fraud, intimidation, threats and extortion. Thereafter, finding no other resources, we, the aggrieved SBI Card Holders in Assam have, in our personal capacities, constituted the SBI Credit Card Victims Forum in order to united stand against the unfair, extortionist and usurious practicies prepetuated by SBI Card and Payments Services Pvt. Ltd., Gurgaon, Haryana.
There has been widespread resentment against the malpractices of SBI Card. A few such news alreday published in Daily news papers in Assam and all ectronic media in Assam. In view of the severe harassment and extortion faced by the citizens and the employees, The Sadou Asom Karmachari Parishad has issued an ultimatum to State Bank of India to stop illegal practices. The All Assam ME Teachers Association has also adopted a resolution in this regard.
State Bank of India, which so denied any accountability for the malpractices of SBI Card, has been recently forced to admit its responsibility for the first time, for the acts of SBI Card. However, it is shocking that SBI has not displayed the sincerity or sympathy to the common man expected from leading Nationalised Bank, and it has perhaps tacitly concurred to the various violations commited by SBI Card of Reserve Bank of India Circular no: DBOD.FS.BC/6/24.01.011/2008-09 dated July 1, 2008.
1. Mis-selling by SBI Card agents to allure customers by misleading & wrong information.
2. Non-transparent, lumpsum and shady billing without giving the annulised interest rate, number of days and calculations.
3. Sending o[censored]nsolicited cards, loans & Insurances policies.
4 SBI Card's agent based at Delhi, Gurgaon etc., persistently bother the card holders at odd hours and resort to verbal intimidation and abuse.
5. Non-usage of stipulated Arial Font & Size 12 in the Most Important Terms & Conditions(MITC).
6. No explanation of documentary evidence is provided to the card users when the complaints are made.
7. No Publicity is given through Electronic and Print Media on Grievances Redressal Machinery.
8.Threat are dragging customers from any where place of India to Delhi for legal action etc.
It is also notable that the National Consumer Disputes Redressal Commission(NCDRC), comprising Justices M B Shah, Rajyalakshmi Rao and Anupam Dasgupta, has stated (Case 51 of 2007) that Reserve Bank of India has to powers but has failed to act against banks charging usurious interest in the name of "deregulation". The Commission has done the job of caping interest rate at 30% and eliminating other"Unfair" trade practices as well. NCDRC's order states its prima facie view that "charging of interest at rate ranging from 36% to 49% per annum is exorbitant and amounts to exploitation of the borrowers/debtors and is usurious". It is therefore scandalous the SBI Card charges interest at more than 40% per annum.
We regret that Reserve Bank of India has not pro-actively excrecised its power to impose penalties under Banking Regulation Act 1949/the Reserve Bank of India Act. 1934 for systematic & large scale violations of its guidelines by SBI Card. We strongly feel that RBI should have taken action suo moto.
There is a growing perception that SBI Cards and Payment Services Ltd., is an organisation with huge resources designed to take advantage of all procedural and regulatory loopholes, and it has been implementing strategies to first allure and then harass, confuse, intimidate and finally traumatise its customers in order to entrap the helpless common man one by one by using the so far trusted SBI Brand Name & Logo.
The SBI Credit Card Victims' Forum, Guwahati has therefore appealed to civil society at large, print & electronic media and like minded organisation to come forward against such fraudulent practices.
In view of the above, we would be grateful if you may kindly initiate suitable remedial steps so that the common man is no longer exploited in violation of SBI Card.

Chandan Kakoti.
Convener
SBI Credit Card Victims' Forum, Guwahati, Assam

dear sir,
i am parminder singh. i am doing govt. jobs . i wants to know sbi credit card . some time before i have open our accounts in sbi . i have sbi debit card . i have transaction above 50000 /RS in our accounts. now i wants master card. my annual pay above 200000/rs .my mobile no is [protected]. and my emai id is
[protected]@rediffmail.com. so pls contact me