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General Credit Card (GCC) Facility - Review 

By - Manali Desai on May 2, 2023

All the banks were advised to implement the Revised General Credit Card Scheme with immediate effect vide RBI circular RPCD.MSME & NFS.BC.No.61/06.02.31/2013-14 dated 02.12.2013 (Circular No. 1). Further, on review of the aforementioned Circular No. 1 and in the light of the Master Direction – Credit Card and Debit Card – Issuance and Conduct Directions, dated 21.04.2022 (Master Direction) the instructions for General Credit Card (GCC) were revised vide FIDD.MSME & NFS.BC.No.06/06.02.31/2023-24 dated 25.04.2023 (Circular No.2). 

Considering the above aspects, the revised instructions on General Credit Card (GCC) are as follows: 

  • The GCC Scheme shall henceforth be called “General Credit Card (GCC) Facility”; 
  • The instructions shall apply to all banks which are eligible to issue credit cards under the above Master Direction; 
  • Individuals/entities sanctioned working capital facilities for non-farm entrepreneurial activities which are eligible for classification under the priority sector guidelines, may be issued General Credit Cards; 
  • General Credit Card (GCC) shall be issued in the form of a credit card conforming to the stipulations in the above Master Direction as updated from time to time; 
  • The terms and conditions of the credit facilities extended in the form of General Credit Card (GCC) shall be as per the Board approved policies of the banks, within the overall framework laid down by Reserve Bank. Guidelines on collateral free lending for micro and small units issued from time to time shall apply; 
  • Bank shall adhere to the instructions on reporting General Credit Card (GCC) data as issued by RBI from time to time. 

In furtherance, the aforementioned instructions supersede the General Credit Card (GCC) guidelines issued in December 2013 vide Circular No. 1 and come into effect as of the date of this circular. Debit cards, if any, already issued under the circular of 2013 shall remain valid till their expiry/repayment of the existing credit facilities, whichever is earlier. 


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