Has the bank declined in writing?
You may refer to RBI: master Circular on CC operations, MITC issued by M/s Axis bank, illustration given on reverse of the BILL generated and supplied to you by M/s Axis Bank, on how the finance charges/interest are calculated in case Min. Due/partial payment is made…………………………..and relate the variance……………………….
So profitable is the CC business,…………………… such is the level of ignorance amongst public/CC holders/bank customers…………………………….lacklusture attitude of the law enforcement agencies, regulators that CC companies continue with ‘Damenning’ attitude………………………..
If M/s Axis bank has overcharged and declined to remove charging approach your lawyer and charge the bank under penalizing sections like 406,420…………………..civil suit with damages etc…………..And also pull them to DCDRF.
In the meantime if there is no variance/or the charges are unfair then you may pay the charges under protest and build your complaint under expert guidance of your lawyer……………………..