Debit card rules changed from this month: Set limit, switch it off when not in use2 min read . Updated: 02 Oct 2020, 03:45 PM IST
- All new debits and credit cards, including those which are reissued, can only be used for domestic transactions at ATMs and PoS terminals
- The regulator has also issued a host of new rules to secure your debit and credit cards
Amid rising cases of banking frauds, the Reserve Bank of India (RBI) has recently introduced several new measures to secure debit cards and credit cards. Starting from October, all the new debit and credit cards issued by banks will only be enabled for domestic transactions at ATMs and point of sale (PoS) terminals. If the customer wants use the card for online transactions, the cardholder would need to approach the bank. The regulator has also issued a host of new rules to curb the misuse.
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