Debit Card Holders Attention! SBI, PNB, HDFC, ICICI Banks to block ATM cards from 1st January 2020

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. Customers using non-EMV chip debit card may have to face a problem during money withdrawal from the ATM as your debit card may be blocked after 31st December 2019.

RBI launches new prepaid payment instrument for digital transactions up to Rs 10,000

The Reserve Bank of India (RBI) on Tuesday introduced a new type of semi-closed prepaid payment instrument (PPI), which can be used only for purchase of goods and services up to a limit of Rs 10,000. Money will be loaded or reloaded in the new PPI only from a bank account for making digital payments such as bill payments, merchant payments, etc. The new PPI could be issued on the basis of essential minimum details sourced from the customer.

RBI changes rules on ATM withdrawals & online transactions, check out

The Reserve Bank of India has stepped in to provide relief to the customers. The new guidelines released by the RBI have defined the new turnaround time for such failed transactions. Read more about this topic :Bank ATM cash withdrawal: RBI announces new guidelines on ATM transactions. Check out STAY IN TOUCH FOR MORE UPDATES….