CMCCMC-Cards-2024-07v2 · 12 Jul 2024
Simplified-documentation limit framework for credit cards
Owner Credit Risk · Approver Chief Risk Officer
§1 Purpose
Sets the limit framework for credit cards sanctioned on the simplified-documentation track.
§3.1 Limit on the simplified track
Sanctioned limit = lower of 3× verified monthly net income and the ₹2,50,000 absolute cap. Limit is set after independent assessment considering other limits held.
Blue Book in-context note. Commonly misread: the cap is the LOWER of 3× income and ₹2,50,000 — not whichever is higher. On ₹78,000 net monthly income the limit is ₹2,34,000.
§4 Above ₹2,50,000
Requests above ₹2,50,000 need Form 26AS or ITR for 2 years and credit-committee approval.