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A credit card account is reported past due only after:
AEight days
BSeven days
CNine days
DThree days
Answer & Solution
Correct answer: D. Three days
1. The count runs from the payment due date on the statement.
2. Reporting and late charges wait for a short grace.
3. That grace is three days.
_Source: RBI Master Circular, Prudential norms on Income Recognition, Asset Classification and Provisioning pertaining to Advances_
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