The Reserve Bank of India today issued fresh guidelines on credit cards regarding transparency in charging interest rates on customers. The central bank warned banks and financial institutions to strictly follow its guidelines. The RBI has issued fresh directives in view of the numerous complaints from credit card holders, especially with regard to excessive finance charges and issuance of unsolicited cards. Giving detailed guidelines for credit card operations, the RBI had earlier asked the banks to declare upfront the interest rate, various charges and the methodology of calculation of finance charges with illustrative examples. There are about 1.9 crore credit card users in India.