SBI, PNB, ICICI Bank, HDFC Bank and other banks’ credit and debit card holders were given some services during the COVID-19 lockdown and notably, these are going to end from midnight today.
As per the new RBI norms, bank customers will have to share their priority for international, online and contactless transactions from their debit and credit cards. Means a debit or credit card holder will have the luxury to choose international, online or contactless transactions for its debit or credit card. If they don’t want these services on their debit or credit card, banks won’t be able to enable these services on their own and charge customers for these services. So, for those customers who don’t go abroad they can deactivate the international transaction facility on their debit or credit card.
Now, bank debit or credit card holders can change their limit 24X7 by visiting mobile apps, international banking, ATM machine and IVR.
The new RBI rules for bank debit and credit card in regard to international, online and contactless transactions will become effective from 1st October 2020.
Source : Zee Business