The RBI has come out with guidelines for credit-card issuance, effective from July 1, 2022. Card-issuers now have to provide a one-page key fact statement along with the credit-card application containing the important aspects of the card such as rate of interest, charges and other key details. In case of rejection of a credit-card application, the card issuer shall convey in writing the specific reasons which led to the rejection. Further, the banks should not issue unsolicited cards. These guidelines apply to all the banks. The regulator aims to protect the interests of retail consumers with these norms.