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PNB partners with Kiwi to launch RuPay credit card with UPI support for 180 million users

PNB partners with Kiwi to launch RuPay credit card with UPI support for 180 million users

Punjab National Bank has teamed up with Kiwi to launch the RuPay-based PNB Kiwi Credit Card, bringing digital onboarding, UPI integration, and 0.5%–1.5% cashback. The bank says the partnership targets faster credit access for India’s expanding UPI users, with an emphasis on semi-urban and rural customers who are increasingly adopting UPI payments.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026
ED flags Indians buying Dubai properties via credit cards and payment links

ED flags Indians buying Dubai properties via credit cards and payment links

The Enforcement Directorate has flagged Indian buyers of Dubai properties, alleging they paid deposits or made transactions using international credit cards during visits or via payment links shared by UAE developers. Authorities say many may not have realized they were violating Indian laws, but the ED is probing the transactions and compliance gaps.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026

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HDFC Bank warns clients after card swipes linked to overseas capital transactions and rules breaches

HDFC Bank warns clients after card swipes linked to overseas capital transactions and rules breaches

HDFC Bank has alerted customers after card swipes were linked to overseas capital account transactions. The move comes as some residents used cards to make international transfers while unaware they could be violating foreign exchange and banking regulations. Reports suggest certain customers may have done it to dodge TCS or sidestep limits on overseas forex remittances.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026
Bank pays Rs 3.21 lakh for credit card closure delay RBI penalties can reach this much

Bank pays Rs 3.21 lakh for credit card closure delay RBI penalties can reach this much

RBI rules require card issuers to complete credit card closure within seven working days. If they fail, they must pay a penalty of Rs 500 per calendar day of delay to the cardholder, until closure—assuming there is no outstanding balance. In one case, the compensation reached Rs 3.21 lakh, highlighting how quickly delays add up.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026
Bank sends Rs 33 lakh notice 10 years after credit card closure, consumer wins Rs 5 lakh

Bank sends Rs 33 lakh notice 10 years after credit card closure, consumer wins Rs 5 lakh

A consumer who had closed his credit card and received confirmation was shocked to receive a legal demand notice for Rs 33 lakh nearly a decade later. After the bank allegedly kept harassing him, he approached the Karnataka State Consumer Commission. The panel ruled the bank engaged in unfair trade practices and ordered compensation of Rs 5 lakh.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026
Almost half of credit card users carry monthly balances and it costs more than ever

Almost half of credit card users carry monthly balances and it costs more than ever

Bankrate data shows the share of credit card users carrying a balance has jumped to 46% from 39% a year ago. “Almost half of cardholders are carrying debt from month to month,” warns Ted Rossman, noting these carry costs are still very high. While lower-income users are likelier to carry debt, 37% of those earning $100,000+ also don’t pay in full monthly.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026

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