| Dear SBI Cardholder, |
| We
would like to inform you about an important regulation issued by the
Reserve Bank of India (RBI) with respect to the use of credit card for
the following: |
- Purchase of Lottery Tickets
- Call Back Services
- Betting, Sweepstakes and Gambling Transactions
- Banned Magazines
|
| There
are many casinos, hotels and websites that prominently advertise the
above and ask you to pay through your credit card for these services. |
| Under
the Foreign Exchange Management Act, 1999 (FEMA) and other applicable
regulations the use of a credit card for items on the aforementioned
list is prohibited. RBI regulations mandate that in the event of
non-compliance with this guideline, the cardholder (including the add-on
cardholder) will be held liable and the cardholder may be debarred from
holding the card. |
| We assure you the best of our services. |
| Warm regards, |
| |
| SBI Card |
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