SBICPSL may, at its sole discretion, offer insurance coverage with the Corporate Card and has the full right to withdraw it without notice to the holder of the company or card. SBICPSL updates the details of these offers on the site at any time. For updated details, business/card owners refer to www.sbicard.com. Insurance coverage is valid and/or activated from the date the company card is issued to the company cardholder. (d) Payments received in exchange for the outstanding cardholder`s card will be adjusted to all minimum amounts due (including all taxes due – EMI on loan plans – 5% of the total outstanding fees, interest, remaining balances, current purchase and cash advance in that order. The cardholder is responsible for providing the correct and timely information to enable the credit card issuer to provide appropriate GST compliance, which would allow the cardholder to benefit from a pre-tax credit for deliveries made by the credit card issuer. The card issuer is not liable for the loss of an upstream tax credit or a delay in the use of the upstream tax credit to the cardholder due to false information provided by the cardholder or an act or omission on the part of the cardholder. The SBI Card Shop – Smile Rewards program allows legitimate SBI to collect points on your SBI credit card fees, in accordance with the SBI card. Points collected on the SBI credit card can be used as explained below. Important regulatory information – The card is valid for use in India and abroad. However, it is not valid for foreign exchange transactions in Nepal and Bhutan.- The use of the card for transactions outside India must comply with applicable laws, including the RBI exchange management regulations and the Foreign Exchange Management Act,1999.
Currency exchanges via Internet trade portals are not permitted. In the event of an infringement or non-compliance, you may be held responsible for criminal action. You should consult your authorized dealer (AD) about your foreign currency claim.- If there is a balance on the corporate card account, SBI Card has the right to return this credit to the company.- Do not use corporate cards to make transfers/payments on capital account transactions such as investing in foreign companies or setting up businesses abroad, since this is not a method of financing authorized under the management of the RBI – direct investments of residents in the joint venture / Wholly Owned Subsidiary Abroad.- According to RBI Master Circular- on Miscellaneous Remittances The use of the Corporate Card is intended for the purchase of prohibited items such as lottery tickets, banned or banned magazines , Participation in competitions, payment of reminder services, etc., as no foreign currency calls are allowed for these goods/activities.