India Business News: Indian banks are gearing up for changes in rules on international credit card spending under the liberalised remittance scheme (LRS). The Reserve Bank
Splashing cold water on lavish holidays may be the last thing now on New Delhi s mind. But banks are not taking chances despite the poll fever hotting up.
Under the belief that reissuing the specific notification may not go against the model code of conduct, many banks are preparing to integrate their systems with the RBIs for capturing the card spend information of individual customers during personal foreign tours.