Hi ,
I got a renewal credit card from HSBC without any prior notice to me. The card was sent to me in a blue envelope without any seal of HSBC on it. I ignore the card for a week since I thought it was my insurance cover and in my busy schedule I could not see it.
I had kept in my office drawer, and some one from office had stolen it and they have misused from a jewellery shop for 1,70,000 rs.
Only later I came to know from the bank that wht they sent contained a credit card and when I opened the drawer I found that it was missing.


Now I ve given a FIR complaint but since the credit card amount seems to be very high I could not pay for it and HSBC claims that i have to pay for it. I am really confused on what to do . When I looked into the RBI rules for credit cards I found that

According to the rules of the RBI ,

In RBI/2008-2009/100
DBOD.FSD.BC.23/24.01.011/2008-09

3. Issue of Unsolicited Cards
Attention of banks is invited to paragraph 6.1 (a) of the Master Circular on Credit Card Operations of banks dated July 1, 2008 wherein banks have been advised that unsolicited credit cards should not be issued and that in case an unsolicited card is issued and activated without the consent of the recipient and the latter is billed for the same, the card issuing bank shall not only reverse the charges forthwith, but also pay a penalty without demur to the recipient amounting to twice the value of the charges reversed.
In addition, the person in whose name the card is issued can also approach the Banking Ombudsman who would determine the amount of compensation payable by the bank to the recipient of the unsolicited credit card as per the provisions of the Banking Ombudsman Scheme, 2006 i.e for loss of complainant’s time, expenses incurred, harassment and mental anguish suffered by him. Further, there have been instances where unsolicited credit cards issued have been misused before reaching the person in whose name the card is issued. It is clarified that any loss arising out of misuse of such unsolicited cards will be the responsibility of the card issuing bank only and the person in whose name the card has been issued cannot be held responsible for the same as indicated at item (4) – Column (4) of the Annex




RBI/2008-09/39
DBOD.FSD.BC.6/ 24.01.011/ 2008-09
Master Circular - Credit Card Operations of Banks


6. Protection of Customer Rights
Customer’s rights in relation to credit card operations primarily relate to personal privacy, clarity relating to rights and obligations, preservation of customer records, maintaining confidentiality of customer information and fair practices in debt collection. The card issuing bank/NBFC would be responsible as the principal for all acts of omission or commission of their agents (DSAs / DMAs and recovery agents).
6.1 Right to privacy
a. Unsolicited cards should not be issued. In case, an unsolicited card is issued and activated without the consent of the recipient and the latter is billed for the same, the card issuing bank shall not only reverse the charges forthwith, but also pay a penalty without demur to the recipient amounting to twice the value of the charges reversed.
b. Unsolicited loans or other credit facilities should not be offered to the credit card customers. In case, an unsolicited credit facility is extended without the consent of the recipient and the latter objects to the same, the credit sanctioning bank/NBFC shall not only withdraw the credit limit, but also be liable to pay such penalty as may be considered appropriate.
c. The card issuing bank/NBFC should not unilaterally upgrade credit cards and enhance credit limits. Prior consent of the borrower should invariably be taken whenever there are any change/s in terms and conditions


I felt that in my case whatever they sent was an unsolicited credit card. They had activated my card without my knowledge.

I had never requested for any credit card .

Now what can be done ? The credit card department still claims that I am liable for it ?
What should I do now? Police has already started investigating the issue . Police investigation report says that they have got a writing from the Merchant that the amt 1,70,000 has been stopped by HSBC considering it as a disputed statement .