COMPANIES For Gulshan Parmar, a mechanical engineer at a tractor factory in the prosperous northern Indian city of Chandigarh, falling into the credit card debt trap proved all too easy.
“The credit card salesmen came to my office. They even filled in the forms for me,” says Mr Parmar, who admits that he failed to grasp the risk of finance charges even with a “free” card offered with a host of benefits.
