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Here's what RBI's new rules for debit, credit cards mean for you

Updated : January 17, 2020 09:35 AM IST

The new norms have been issued under Section 10(2) of the Payment and Settlement Systems Act, 2007 and will come into effect from March 16, 2020.
RBI has asked card issuers to give cardholders the facility to switch on and off their debit or credit cards at any given point.
Every cardholder should be alerted through SMS or e-mail, as and when there is any change in status of the card.
Here's what RBI's new rules for debit, credit cards mean for you

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