Reserve Bank of India has introduced a new rule that allows a three-day grace period for credit card bill payments after the due date.
According to the announcement, cardholders will be able to clear their dues within this additional period without facing any late payment penalties. Importantly, payments made within these three days will not affect the user’s credit score, commonly tracked through CIBIL.
The new guideline is aimed at offering flexibility to customers who may miss the original deadline due to various reasons. It also ensures that short delays do not immediately impact a person’s credit history.
Officials stated that the rule will come into effect from April 1, 2027. Banks and financial institutions are expected to update their systems to align with the new regulation before implementation.
The move is part of ongoing efforts to improve customer-friendly practices in the banking sector. The decision is expected to make credit card usage more manageable for users across the country.
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