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Business & Stocks Google News Business (Hindi) • Oct 31, 2026

Credit Card Fee Hikes: SBI Card and PNB Announce New Charges and 1% Surcharges for Customers

💡 Key Takeaways

•SBI Card introduces a 1% fee on specific card transactions effective December 1, 2024.
•Punjab National Bank (PNB) doubles ATM cash withdrawal charges and revises late payment fees from November 1, 2024.
•Revisions reflect tightening credit risk management and operational cost-passing by major Indian issuers.

NEW DELHI [NCRBuzz Wire] — **NEW DELHI [NCRBuzz Wire] —** Major banking institutions including SBI Card and Punjab National Bank (PNB) have announced sweeping structural revisions to their credit card fee frameworks, impacting millions of retail consumers across India.

**Financial metrics indicate that these revisions encompass a 1% fee on specific utility or rental transactions, alongside doubled charges for ATM cash withdrawals and tightened late-payment penalties.** **Under the updated guidelines, cardholders failing to meet payment thresholds will absorb steeper financial liabilities, reflecting a broader industry push to mitigate unsecured lending risks and operational overheads.**

### Fiscal Breakdown: Revised Credit Card Charges

|---|---|---|---|---|---|

**Market analysts note that these fee adjustments will directly alter the cost-benefit equilibrium for frequent credit card users.** **Consumers are advised to review their billing cycles, automate repayments, and monitor transaction classifications to avoid unexpected 1% levies on recurring payments.**

NCRBuzz Wire Desk ✓ Verified Wire

AI-synthesized and fact-audited across multiple independent news agencies.

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🏛️ Background Context

Indian commercial banks and credit card issuers have progressively tightened credit parameters and increased user fees to offset rising funding costs and curb unsecured retail lending growth, aligning with broader regulatory guidance from financial authorities.

💡 Citizen & Commuter Quick Explainer (FAQ)

Q1: What are the new changes announced by SBI Card?

SBI Card has introduced a 1% fee on specific transactions effective December 1, 2024.

Q2: When do the new PNB credit card charges take effect?

PNB's revised charges, including higher ATM cash withdrawal fees and late payment penalties, take effect on November 1, 2024.

Q3: Why are banks increasing credit card fees?

Banks are raising fees to manage operational overheads and mitigate risks associated with unsecured retail lending.

Verified Wires: Google News Business (Hindi), AajTak, ABP News, Hindustan, News18 Hindi Original Wire Dispatch ↗

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