Bank of Baroda has increased the charges on overlimit fees, late payment charges and interest rate on unpaid dues of OneCard credit card effective June 23.
During a recent fireside chat at the Moneycontrol AI Alliance conclave in Pune, OneCard CEO addressed concerns arising from the RBI directive to halt the issuance of new co-branded credit cards by partner banks, Federal and South Indian Bank. Sinha affirmed the company's commitment to regulatory compliance and collaboration with the affected banks, assuring resumption of services
The pause is most likely temporary and once OneCard starts accessing customer data in encrypted form, the banks will start issuing the cards again