I re-read the clause and it says the entire amount needs to be transferred to bank account if credit amount is more than 5K or 1% of CL (whichever is lower) within 7 days of credit transaction (irrespective of the current outstanding). So, I sent another mail to PNO asking to credit the entire 10K to my SB Ac by tomorrow as deadline to automatically transfer is already over.
10. Billing
(h) Card-issuers shall seek explicit consent of the cardholder to adjust credit amount beyond a cut-off, one percent of the credit limit or ₹5000, whichever is lower, arising out of refund/failed/reversed transactions or similar transactions against the credit limit for which payment has already been made by the cardholder. The consent shall be obtained through e-mail or SMS within seven days of the credit transaction. The card-issuers shall reverse the credit transaction to the cardholder’s bank account, if no consent/response is received from the cardholder. Notwithstanding the cut-off, if a cardholder makes a request to the card-issuer for reversal of the credit amount outstanding in the card account into his/her bank account, the card-issuer shall do it within three working days from the receipt of such request.
