RBI’s 180‑day rule forces offshore banks to halt cards for rich Indians
Offshore banks in Zurich, Singapore and London are refusing to issue or renew international credit cards for wealthy resident Indians. The crackdown follows RBI’s 180‑day ‘redeployment’ rule, which forces any foreign‑remitted funds to be spent within six months, leaving idle balances and card limits non‑compliant. High‑net‑worth Indians and minors with foreign accounts now face reduced payment flexibility.