Global banks are pulling back credit cards once prized by rich Indians
· economictimes.indiatimes.com
Several offshore banks are becoming reluctant to issue or renew international credit cards for wealthy resident Indians due to Indias 180-day rule on deploying overseas funds. The requirement is also creating difficulties for minors holding foreign accounts under the Liberalised Remittance Scheme.
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MINOR ACCOUNTS, MAJOR CHALLENGEs
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