Is there any punishment for credit card defaulters in IPC? Yes, there is a punishment for credit card defaulters under the Indian Penal Code (IPC). In India, defaulting on credit card payments can be considered an offense under the IPC and the accused can face criminal charges. The Indian Penal Code (IPC) does, in fact, have a penalty for credit card default. Credit card debt default in India is punishable by the Indian Penal Code (IPC), which carries criminal penalties for the defaulter. The regulations of the Negotiable Instruments Act, 1881, or N.I., govern credit card bill delinquency in India, where it is regarded as a civil offense. In compliance with this law, the bank may file a civil lawsuit to collect the unpaid balance on a credit card debt if the debtor does not make the repayment. A credit cardholder's credit score may also be adversely affected by credit card default under the Credit Information Companies Act of 2005, which will make it more challenging for them to ge
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