Home › Circulars › RBI/2009-10/64

Master Circular on Credit Card Operations – 2009

No longer current — withdrawn, no replacement on file yet

Source: Reserve Bank of India · RBI/2009-10/64 · issued 01 Jul 2009 · ~1 min read

Quick answerRBI consolidated all credit card guidelines for banks and NBFCs into a single Master Circular as of July 1, 2009, covering card issuance, interest rates, billing, customer protection, and fraud control. Banks must strictly follow these updated rules to ensure sound and customer-friendly operations.

What changed

RBI updated the previous Master Circular dated July 1, 2008 by incorporating all instructions issued up to June 30, 2009. The circular consolidates existing guidelines into one document for easier reference and compliance.

What it means for you

Banks and NBFCs must align their credit card operations with the updated Master Circular, which covers key areas like interest rates, billing practices, use of agents, customer rights, and fraud control. Non-compliance may attract penalties. The circular emphasizes prudent risk management, especially during economic downturns.

Historical instruction — do not use for current compliance. This is what was required at the time; it no longer reflects current RBI requirements. If no replacement rule is linked above, that only means none is recorded on our register yet — it does not prove no later applicable rule exists. Confirm on the official RBI source below.

What banks were required to do at the time

Review and update internal credit card policies to align with the Master Circular's guidelines.
Ensure all DSAs/DMAs and agents comply with the prescribed fair practices and customer protection norms.
Strengthen internal control and monitoring systems for credit card operations and fraud detection.
Train staff on the updated guidelines, especially regarding interest rate disclosure, billing, and grievance redressal.

Who it affects

All Scheduled Commercial Banks (excluding RRBs) issuing credit cards, NBFCs engaged in credit card business, Subsidiaries or affiliated companies of banks/NBFCs involved in credit card operations

❓ Common questions

Regulatory timeline

Decoded by BankPulse 2026-06-19 09:36 IST
repealed_by — Consolidation of Regulations — Withdrawal of circulars (28 Nov 2025)
Status change: withdrawn 03 Aug 2026, 04:00 IST

Built from our lineage records — each fact carries its provenance; missing history simply is not shown (never guessed).

Does this Master Circular replace all previous credit card guidelines?

Yes, it consolidates all instructions issued up to June 30, 2009 into a single document. Banks must refer to this circular for compliance.

What are the key areas covered in this circular?

It covers card issuance, interest rates and charges, wrongful billing, use of DSAs/DMAs, customer rights (privacy, confidentiality, debt collection), grievance redressal, internal controls, and fraud control.

Are RRBs covered under this circular?

No, Regional Rural Banks (RRBs) are explicitly excluded from the scope of this Master Circular.

📜 This document’s life story (1 recorded event, each backed by RBI’s own words)

Repealed by RBI/2025-26/100 — Consolidation of Regulations — Withdrawal of circulars (28 Nov 2025)

RBI’s words: “Official withdrawal register entry #1879: DBOD.No.FSD.BC.19/24.01.011/2009-10 — "Master Circular on Credit Card Operations of Banks" dated July 1, 2009”

📜 Read the original circular — full text as issued by RBI

RBI/2009-10/64
 DBOD.No.FSD.BC.19 / 24.01.011/ 2009-10 
 July 1, 2009 
 Ashadha 9, 1931(Saka) 
 All Scheduled Commercial Banks /NBFCs 
 (excluding RRBs) 
 Dear Sir
 Master Circular on Credit Card Operations of banks 
 Please refer to the Master Circular No. DBOD.FSD.BC.6/24.01.011/2008-09 dated July 1, 2008 on credit card operations of banks consolidating the instructions/guidelines issued to banks till June 30, 2008. The Master Circular has been suitably updated by incorporating instructions issued upto June 30, 2009. The Master Circular has also been put on the RBI website ( http://www.rbi.org.in ) . A copy of the Master Circular is enclosed. All the credit card issuing banks/NBFCs should adhere to these guidelines strictly.

 Yours faithfully
 (P.Vijaya Bhaskar) 
 Chief General Manager-in-Charge
 Encl: As above 
 Table of Contents 
 Paragraph No

Reproduced for reference with acknowledgment — Source: Reserve Bank of India · RBI/2009-10/64 · issued 01 Jul 2009. The plain-English explanation above is BankPulse’s own independent summary.

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BankPulse Compliance Evidence Pack — generated 03 Aug 2026 · status cross-checked against RBI’s official withdrawal register (refreshed weekly).
Official RBI source: https://www.rbi.org.in/Scripts/NotificationUser.aspx?Id=5110&Mode=0 — Plain-English summary by BankPulse (bankpulse.ai), reviewed by our expert reviewer, CA Amit Jain. Independent platform, not affiliated with the Reserve Bank of India; is our own plain-English paraphrase, not RBI’s original wording.