A Noida-based girl received a jolt from the blue when she got robbed of Rs 1.5 lakh without any OTP or PIN. The fraudulent transactions were made via the girl's HDFC Bank Debit Card and HDFC Bank Credit Card. Here's what happened.
RBI new Debit card, Credit card rules: Amid rise in banking fraud cases, the Reserve Bank of India introduced several new guidelines to secure debit cards and credit cards. RBI issued new rules for debit and credit cards to improve the convenience and security of card transactions.
Neha, who works with a PR firm, immediately informed the HDFC customer care, got both the cards blocked, transferred the rest of the amount from the affected savings account to another joint HDFC account, and lodged an FIR in Paris.
ICICI Bank customers alert! Do you forget user ID or password while logging in your net banking? Then you don't need to worry about it anymore as you don’t have to memorize your password anymore.
RBI new Debit, Credit card rules: The Reserve Bank of India or RBI on Wednesday issued new rules for debit and credit cards to improve convenience and security. RBI has also asked banks to allow only domestic card transactions at ATMs and PoS terminals in India at the time of issuance/reissuance of card.
The RBI on Wednesday asked banks and other card-issuing companies to provide a facility to customers to switch on and off their debit or credit cards, a move aimed at enhancing security for digital transactions.
Debit Card users alert! Are you debit card users of SBI, PNB, HDFC, ICICI, or other banks? Then this is important new for you! All public and private banks will block debit cards (ATM cards) which doesn't have EMV (Europay, Mastercard and Visa) after 1st January 2020. According to the Reserve Bank of India (RBI) guidelines, all Indian banks need to replace the magnetic debit card of their customers with a new EMV card.
India's largest public sector bank State Bank of India (SBI) has issued an advisory to its customers to replace their Magnetic Stripe Debit cards with new EMV (Europay, Mastercard, and Visa) Chip and PIN-based SBI Debit Card. The bank will deactivate those Magnetic Stripe debit cards by December 31. So, here's how to apply for SBI EMV Chip Cards Online?
Did you know? like credit cards, the State bank of India or SBI debit cards also come with insurance cover. SBI provides different insurance covers up to ₹ 10 lakh to ₹ 50 lakh, depending on the type of your debit card. From SBI Gold to Business card and Master to Visa card, the insurance cover differs.
SBI Debit Card users alert: In what comes as good news for account holders of State Bank of India, the country’s largest lender on October 7 launched the ‘Debit Card EMI facility’ for its existing customers with an aim to provide an ultimate and affordable shopping experience this festive season.
With the payment of just Rs 20, you can have a savings accounts in India Post, which comes with an ATM facility. It pays interest at the rate of 4 per cent per annum on deposit in its savings account in the current quarter. For opening an account and other details, you will have to visit the official website of India Post i.e -- indiapost.gov.in.
If you are a Debit card or Credit card user and go to a bank ATM for cash transaction then there is good news for you from Reserve Bank of India (RBI). As per RBI's latest notification if you visit bank ATM and there is no cash in it, then your bank cannot count this transaction in the free transaction limit that it has set.
If you are debit card or cards user and regularly visit bank ATM for cash transaction, then you should not miss the alert issued by HDFC Bank or else you might end up making a big mistake that will lead fraudsters to steal your hard-earned money from your bank account. HDFC Bank has also shared few tips for debit card users while visiting the bank to prevent them from becoming a victim bank ATM fraudster.
In the view of rising cases of online fraud RBI asked banks to replace the cards of customer by December 31,2018.
In 2013, a Bengaluru resident Vandana gave her ATM card and PIN to her husband to withdraw some cash from the ATM. After her husband swiped the card at a SBI ATM, he received a slip showing the money was debited, but the couple claimed that the amount was never released.
An RBI draft report had made a case for restructuring MDR on the basis of merchant turnover rather than the present slab-rate based on transaction value.
The debit and credit card transactions have jumped to Rs 74,090 crore in September this year, up a hefty 84 per cent as compared to the same month last year when it stood at Rs 40,130 crore.
With a view to promote digital transactions, the Reserve Bank of India (RBI) is working to reduce the Marginal Discount Charges (MDR) for debit card transactions above Rs 2,000, Parliament was told on Tuesday.
In an attempt to promote digital transactions amid cash crunch following currency ban, the government is all set to waive service tax on debit and credit card transactions of up to Rs 2,000.
In a view to empower a greater push towards a cashless economy, the Unique Identification Authority of India (UIDAI) has planned to increase biometric authentication limit through Aadhaar to 40 crore a day from the
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