............The Reserve Bank of India had drawn up the General Purpose Credit Card, similar to the Kisan Card, as this segment does not have a credit card facility for purchases and other purposes. The apex bank had specified that the borrowers would be eligible for availing themselves of credit facilities provided under the card as per their needs without any insistence on security and the purpose or end-use of the credit. Banks were given the freedom to charge appropriate and reasonable interest rates. They also have the flexibility to fix the limit based on the income and cash flow of the entire............
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