Business NewsFrom Today, You Can Withdraw Only 20,000 Rupees From Select SBI Cards: 10 Points
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From Today, You Can Withdraw Only 20,000 Rupees From Select SBI Cards: 10 Points
Earlier, SBI Classic, Maestro card holders could withdraw Rs 40,000/ day
Latest rule in line with RBI directives on safe banking practices
SBI customers can get old cards replaced with EMV chip cards for free
The latest rule is in line with the directives of Reserve Bank of India (RBI) on safe banking practices.
RBI has directed lenders to move to EMV chip (Europay, Mastercard and Visa) cards to curb fraudulent transactions.
SBI has been making its customers aware about the use of EMV chip cards.
SBI Classic debit card is not chip-based. That is why there are concerns about its security, news agency Press Trust of India (PTI) had reported earlier, citing a senior SBI official.
Besides the Classic debit card, SBI offers a range of cards like SBI Silver International Debit card, SBI global International Debit card, and SBI Platinum International Debit Card, among others. (With agency inputs)