The Reserve Bank of India announced this week it is lifting its $10,000 annual limit on foreign credit card spending by consumers and its $25,000 for annual restriction on international business travel credit card spending as mandated by the Foreign Exchange Management Act. The RBA says credit card users will now be limited by their credit card credit lines and will no longer need special permission to exceed the annual RBA limits. Under the current RBA rules, the credit limit for a “Classic”/”Silver” credit card is between Rs 15,000-Rs 50,000 (apprx. $300 and $1000); “Gold” card credit limits are now between Rs 50,000-Rs 300,000 (apprx. $1000 and $6000); and, “Platinum” card credit limits begin at Rs 500,000 (apprx. $10,000). According to The RAM Report ([www.ramreport.com]), India has about six million credit cards and the average annual credit card volume per card of about Rs 17,000 ($350). There are less than 10,000 “Platinum” credit cards in the country. The Reserve Bank of India also noted that rules prohibiting purchases of lottery tickets, banned magazines, sweepstakes, and payment for call-back services will continue in force.