Mumbai: The Reserve Bank of India (RBI) on Thursday allowed banks, including cooperative banks, which still do not have their own debit cards to issue such cards in collaboration with banks that have such a facility.

“As a precursor to moving towards a cashless economy, it is necessary to inculcate the habit of using electronic payment channels among bank customers," RBI said in a notification on its website.

However, for now, only those banks that have moved to a fully computerized environment will be allowed to issue debit cards in alliance with a sponsor bank, RBI said.

Close
×
My Reads Logout