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Big news credit card and debit card
Debit and credit card will not be able to make online payment, rules will apply from March 16.
Starting Monday, you will be able to use these cards only by withdrawing money from the ATM and physically swiping it.
New Delhi: Nowadays online shopping is considered trending and cool, but the difficulties of those doing so are going to increase. If you also make online transactions through debit and credit card then this news is for you. In fact, according to the RBI guidelines, the rules for using debit and credit cards will change from March 16 and from Monday you will be able to use these cards only by withdrawing money from Atm and physically swiping it.
The RBI has taken these steps because of the rise in online fraud. The thing to keep in mind here is that if a customer wants to make transactions online with his card, he has to contact his bank
The RBI had issued a notification in this regard on January 15.
You can read the RBI notification by clicking here.
Good news! Yes Bank Account holders will be able to withdraw more than Rs 50,000 from Wednesday
For these things the bank has to contact -
Newly issued cards will not get this facility as before, but you will need to contact your bank and start it. That is, if you want to use your card outside the country, you will have to apply to the bank to start the international transaction. Until now, these feature cards were automatically turned on with issue.
Banks will have the right to deactivate old cards and issue new cards. The bank can decide on the risk accordingly.
If a customer does not make digital payments through the card, the bank will have the right to cancel the facility with these cards.
In addition, customers will also have the right to switch cards on and off.
RBI has also instructed banks to provide 24x7 mobile app facility.
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