Please refer to BPRD Circular No. 10 of 2016, whereby, revised Prudential Regulations for Consumer Financing were issued.
2. It has been decided to revise the regulatory limits prescribed in the Para 1 and 2 of the Regulation R-8 of Prudential Regulations for Consumer Financing as under:-
REGULATION R-8
MAXIMUM CLEAN LIMIT FOR CREDIT CARD AND PERSONAL LOAN / FINANCING FROM ALL BANKs/DFIs
| EXISTING LIMITS |
REVISED LIMITS |
Total Clean Limits
Credit Cards + Personal Loans - Rs2 million
Total Clean and Secured Limits
Credit Cards + Personal Loans - Rs5 million
|
Total Clean Limits
Credit Cards + Personal Loans – Rs3 million
Total Clean and Secured Limits
Credit Card + Personal Loans - Rs7 million |
Prime Customer
Total Clean Limits
Credit Card + Personal Loans - Rs5 million
[subject to condition that clean limit assigned to a prime customer, on account of, personal loans limit will not exceed Rs2 million] |
Prime Customer
Total Clean Limits
Credit Cards + Personal Loans - Rs7 million
[subject to condition that clean limit assigned to a prime customer, on account of, personal loans limit will not exceed Rs4 million] |
3. The Banks/DFIs may assign clean and secured limits to a single customer up to aforesaid amounts, in aggregate, from all Banks/DFIs.
4. All other instructions on the subject shall, however, remain unchanged. The Banks/DFIs are advised to follow the regulations in letter and spirit. Any deviation or non-compliance of the same shall attract punitive action under the relevant provisions of the Banking Companies Ordinance, 1962.
5. Please acknowledge receipt.