Legal Question in Banking Law in India
Hi,
I have a credit card of axis bank with Rs.75000/- credit limit. I had used Rs.40000/- from my card in a particular month, and after the bill generation, i had to pay Rs.40000/-, but the thing is that my credit card account has credited with Rs.41000/- before the payment last date as refund from the airlines, but bank has not considered this amount as payment, the officials said you have to pay Rs.40000/- against the bill, your refund would be considered in the next month cycle, and if you do not pay the requisite amount you will be charged as per the credit card norms.
Therefore, I want to know, this is fare or not???
2 Answers from Attorneys
It is not fair (not fare) on the part of the bank. Threaten them with legal action. If they persist complain to Banking Ombudsman.
02.07.2014
Dear Sir / Madam,
If the billing of Rs. 40,000/- and the corresponding refund of Rs. 41,000/- is within the same Billing cycle date, you are not liable to make any payment to the Bank. All you need to do is to show the credit advice from the airline with the date of the refund to the Bank and settle the matter.
Regards,
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