What exactly Credit Policy is

[souvikdey2002]

Dear @TechnoFino @AllSeeker @prc1990 @anirbanm @hriday.haria @Batmanbaba @fatehbajwa @SMARTY_ANKUSH @StanRoute66

Can somebody please explain me what exactly Credit Policy is according to the bank??
Explanation with a link redirecting to RBI guideline on this would be highly appreciated.

Regard's
Souvik Dey

 

[souvikdey2002]

Thread 'Very Important Information Regarding Credit Card Charges'
https://www.technofino.in/community...nformation-regarding-credit-card-charges.745/

Are you looking for this post?

Thanks Anirban for your reply, as always.
I know this post but I'm looking exactly how the term "Credit Policy" can be explained in Banking Terms.
Along with if possible to get the respective link for RBI for the explanation.

 

[fatehbajwa]

Sample Credit Policy

Would be different for all banks and countries.

 

[AllSeeker]

Personally speaking it's just an excuse to what when banks legally don't want to do something.

If you look at the majority of the banks, and which kind of loans are passed to what kind of risk, we can easily gauge that this is up to completely human judgment who is at the top atm. Blatantly fraud individuals get loans far more easily than a honest working man, so....

Anyways, if this is thrown at your face from some bank, then its best to walk away, this is their legal protection from basically what they don't want to do.

 

[souvikdey2002]

Personally speaking it's just an excuse to what when banks legally don't want to do something.

If you look at the majority of the banks, and which kind of loans are passed to what kind of risk, we can easily gauge that this is up to completely human judgment who is at the top atm. Blatantly fraud individuals get loans far more easily than a honest working man, so....

Anyways, if this is thrown at your face from some bank, then its best to walk away, this is their legal protection from basically what they don't want to do.

I think i discussed with you,
It was thrown at my face from Yes Bank but when I have stated my Portfolio they have agreed to issue me Yes First Exclusive Credit Card however they are saying on chargeable basis.

Now the reason they have stated for chargeable card is very funny. which is "We regret to inform you that we are unable to approve your YES First Exclusive Life Time Free Credit Card application as per credit policy parameters of YES Bank Limited."

On the other hand they are saying "Further, we will gald to inform to inform you that we will be able to process your YES First Exclusive priced Credit Card and we request your consent from registered email address for us to process the same."

But I don't believe that the term "Credit Policy" could dictate which customer can be offered Life Time Free & which Customer is not. It always depends on the Offer released by the bank time to time.

So basically by stating above 2 contradictory statements at the same time they put themselves in to a trap which I want to use at the fullest.
Therefore, as you said, "Every mistake is an opportunity", I'm trying to encash that.one.
So support me getting some articles(preferably from RBI) which explains the term "Credit Policy" for banks operating in India.