For Quick Alerts
For Daily Alerts

    After cheques, RBI says certain debit cards need to be discontinued

    RBI says certain debit cards need to be discontinued
    Close on the heels of issuing guidelines for the use of CTS compliant cheques, the RBI has now said that all debit cards without PIN number will have to be PIN compliant.

    These will also include co-branded debit cards where there is an immediate debit to the customers' account, and where straight through processing is involved.

    Banks which are presently issuing offline debit cards may conduct a review of their offline debit card operations and discontinue operations of such cards within a period of six months from the date of this circular.

    The RBI also said that with a view to reducing the instances of misuse of lost/stolen cards, banks may consider issuing cards with photographs of the cardholder or any other advanced methods that may evolve from time to time.

    Read more about: banks rbi debit cards
    Company Search
    Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'

    Find IFSC

    We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more