Main Note - [Cards](Cards.md) 1. It stands for General Credit Card facility (earlier known as Scheme). 2. This is a general purpose credit, and not just entrepreneurial credit. 3. [Nov 11, 2005](all banks are advised to make available a basic banking 'no-frills' account either with 'nil' or very low minimum balances as well as charges that would make such accounts accessible to vast sections of population. ) - all banks were advised to make available a basic banking 'no-frills' account either with 'nil' or very low minimum balances as well as charges that would make such accounts accessible to vast sections of population. 4. [Dec 27, 2005](RBI_Notification_20051227_Scheme%20to%20cover%20loans%20for%20general%20purposes%20under%20General%20Credit%20Card%20(GCC).pdf) - GCC scheme was introduced to provide loans for general purposes. 5. [May 06, 2008](https://rbi.org.in/scripts/NotificationUser.aspx?Id=4168&Mode=0) - In order to give further impetus to financial inclusion, RBI allowed banks to classify following types of credit, as indirect finance to agriculture sector under the priority sector with immediate effect. 1. 100 per cent of the credit outstanding under GCCs and 2. overdrafts up to Rs. 25,000 (per account) granted against 'no-frills' accounts in rural and semi-urban areas 6. [December 2, 2013](RBI_Notification_20131202_%20Revised%20General%20Credit%20Card%20(GCC)%20Scheme.pdf) - The scheme was revised. 1. All other Credit Cards (e.g. Artisan Credit Card, Laghu Udyami Card, Swarojgar Credit Card, and Weaver’s Card etc.) in existence and catering to the non-farm entrepreneurial credit needs of individuals were to be included for reporting of credit extended through the General Credit Cards under the Financial Inclusion Plans (FIPs). 2. As the GCC is intended to cover all entrepreneurial credit, consumption credit extended to individuals should not be reported under GCC 7. [April 25, 2023](RBI_Notification_20230425_General%20Credit%20Card%20(GCC)%20Facility%20–%20Review.pdf) - Scheme was modified, and GCC Scheme was renamed to GCC facility. 1. GCC would be issued only in the form of a credit card conforming to the stipulations in the above Master Direction as updated from time to time. So any Debit cards, if any, already issued under the circular of 2013 shall remain valid till their expiry/repayment of the existing credit facilities, whichever is earlier. 8. The number of transactions in GCC is also one of the achievement parameters for the financial inclusion plans (FIP) that banks have been advised to put in place to enhance the level of financial inclusion in the country. 9. Related-National Strategy for Financial Inclusion ([NSFI](https://rbi.org.in/scripts/PublicationReportDetails.aspx?ID=1307)): 2025-30 ## Directions 1. ntained in the [Master Direction – Credit Card and Debit Card – Issuance and Conduct Directions, dated April 21, 2022](https://rbi.org.in/Scripts/BS_ViewMasDirections.aspx?id=12300), revised instructions on GCC are as follows: