SBI alert: The State Bank of India (SBI) may block your debit and credit card online facility by 16th March 2020 if you haven’t done online transactions for at least once since its issuance. The SBI has been sending messages through SMS and other means of communication to its customers to do one contactless transaction of the SBI debit card and SBI credit card to those SBI customers who have never done any online debit, credit card transaction. The largest Indian commercial bank has advised it’s debit and credit cardholders to do at least one online transaction of the SBI debit and credit card to avoid discontinuation of the SBI online debit, credit card services. SBI will mandatorily block the SBI online debit, credit card services as per the directives of the Reserve Bank of India.
RBI on 15th January 2020 directed SBI and other Indian commercial banks to disable such debit, credit cards citing, “For existing cards, issuers may take a decision, based on their risk perception,…
