The Hindu Business Line : Credit card regulation

This refers to the editorial, "Not quite creditable", (Business Line, August 23). Regulation of credit card usage, at this stage, is premature. While regulator stipulating the micro-policies with regard to issue of credit cards is not appropriate, suggestion with regard to transparency on certain matters are worth following, considering the aggressive marketing by banks.

As regards a composite credit limit for all cards, there are practical difficulties.

However, it can be done for cards issued by the same bank.

Further, issuing cards to non-earning customers is fraught with risk. The "borrow today and earn tomorrow" culture may not be suitable to a country such as ours.

The only question is whether these are matters concerning regulators, or of public policy or of self-regulation at the bankers' level.

R. H. Sarma

Mumbai

Letters to the editor and contributions can be sent by e-mail to: bleditor@thehindu.co.in

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
National Employment Guarantee Scheme — Well-intentioned, but poorly designed

Inflation concerns

The ever-elusive 8 per cent growth rate

Speaker calms storm

Wireless infidelity can fail in Wi-Fi hotspots to put you in a spot

Institutional diseases

Does economy need the bull run?

Deposit mobilisation

Credit card regulation