Press Esc to close
Friday 26 May 2017
News updated at 6:23 PM IST

Credit card defaulters' dues to be deducted from salary

Last updated: 29 September, 2009
New Delhi, Sep 28, DH News Service: 0:52 IST

Apart from blocking the use of multiple credit cards by defaulters, banks recently also empowered themselves with a tool that allows them to ask employers to deduct the outstanding amount from the salary.


Employees who may have defaulted on payment, however, cannot object to this deduction of dues at source, according to the new clause introduced in the terms and conditions adopted by many of the banks.

Such deductions will be remitted to the bank and will continue till the entire dues are recovered.

The amended terms and conditions say that “no law or contract” governing either the card holder or employers prevents the bank from seeking such deduction and subsequent payment by the employer to the bank.

However, the new clause is applicable only to customers who default on their credit card payments.

Customers informed

Prior notice has already been sent to all out customers to make them aware of this clause.
“Only the defaulters in repayment need to be concerned and it is not of concern to regular customers,” an ICICI Bank official had said.

Go to Top

Photo Gallery
German Chancellor Angela Merkel (R-L), former US President Barack Obama and Heinrich...

German Chancellor Angela Merkel (R-L), former US President Barack Obama and Heinrich...

External Affairs Minister Sushma Swaraj greeting Indian woman Uzma at Jawahar Bhawan after she...

External Affairs Minister Sushma Swaraj greeting Indian woman Uzma at Jawahar Bhawan after she...

Police officials stand by the wreckage of the Sikorsky VT-CMM helicopter, carrying Maharashtra...

Police officials stand by the wreckage of the Sikorsky VT-CMM helicopter, carrying Maharashtra...

Supporters of Indias Bharatiya Janata Party (BJP) try to break a police barricade during...

Supporters of Indias Bharatiya Janata Party (BJP) try to break a police barricade during...

A supporter of Bharatiya Janata Party (BJP) smashes an overturned car during a protest against...

A supporter of Bharatiya Janata Party (BJP) smashes an overturned car during a protest against...

Members of Sadou Asom Nirman Sramik Union under the banner of CITU staging a protest...

Members of Sadou Asom Nirman Sramik Union under the banner of CITU staging a protest...

Pakistan occupied Kashmir (PoK) refugees shouting slogans during a protest for their various...

Pakistan occupied Kashmir (PoK) refugees shouting slogans during a protest for their various...

Activists of All Bodo Students Union (ABSU) taking out a protest rally against an alleged fake...

Activists of All Bodo Students Union (ABSU) taking out a protest rally against an alleged fake...

NCC cadets of Jammu and Kashmir unit raising patriotic slogans after performing drills during...

NCC cadets of Jammu and Kashmir unit raising patriotic slogans after performing drills during...

Relatives and villagers attending the funeral of eight activists who had lost their lives...

Relatives and villagers attending the funeral of eight activists who had lost their lives...

Like us on Facebook

Copyright 2017, The Printers (Mysore) Private Ltd., 75, M.G Road, Post Box 5331, Bengaluru - 560001
Tel: +91 (80) 25880000 Fax No. +91 (80) 25880523
Powered by Yodasoft Technologies Pvt. Ltd.