Why that in India, they charge 2.75% PM (PM- per month) as Rate of Interest?
And remember most of cards are International ones like citibank, hsbc, standard chartered, Abn Amro and more. When we are talking about International market as a playground, Why Indians are made to pay a huge transaction charge. Take the same card in the US what would be the charge.
Aren't Indians paying more in the international market.
When my friend from US comes here, he is so happy to use his credit card in India, the reason is low interest rates.
On the contrary?
You have heard about the Pizza Corner, Pizza hut and other in the Indian market which made it entry recently. Have you checked their bills for same variety and quantity of pizza they offer, the price is different.The same international pizza which is offered has a variation in prize. The Pizza hut is costly in chennai because they are international company and Pizaa corner was able to gel with the Indian society by starting a new company in India as "Pizza corner India Ltd". Which actually lowered the sales tax.
Why is the Indian Government keeping quiet on this?
Imagine a quiet a number of Credit card holders pay higher rate of Interest, and an Hungry Indian guy still can't affford to buy his lunch at Pizza Hut, well the later was a joke.