Should RBI Introduce Restriction on Number of Cards ?

[cardbhai]

The Government of Indonesia has issued several restrictions on the issue and use of Credit Cards.

1. minimum income limit to qualify for a credit card
2. only two cards if income > indonesian Rp10mn/month,
3. limit should by up to 3x the monthly income,
4. minimum age of 21 years or married,
5. maximum rate charged 3% from 3.75%.

What Suggestions do you have in the context of India ?

[iamjoe]

Indonesia government going to tighten the rules because of death of a person who is a card holder of a major bank after the questioning by the debt collectors from the bank . 

Credit card policy must be tighten to make sure no such events occur in country and on behalf of the banks , no one should be able to misuse credit cards . In the light of these causes , rules must be tighten .