Best printers for Home

Best Mixer Grinder

Best wired Earphones

Best 43 Inch TV in India

Best Wi Fi Routers

Best Home Theatre in India

Smart Watch under 5000

Best Laptops for Education

Best Laptop for Students

<ul><li><keyword id="6354731" type="DOMAIN" weightage="20" keywordseo="state-bank-of-india">State Bank of India</keyword> (SBI) has reduced the withdrawal limit from ₹40,000 to ₹20,000 per day to minimise fraudulent transactions and promote digital transactions. </li></ul><ul><li>The lower limit will be effective from 31 October. </li></ul><ul><li>The reduced limits are applicable on Classic and Maestro debit cards.</li></ul>The largest commercial bank in India, State Bank of India (SBI), has cut down the withdrawal limit on ATM transactions for certain debit cards from ₹40,000 to ₹20,000 per day. The lower limit will be applicable from 31 October. The withdrawal limit has been imposed on Classic &amp; Maestro debit cards. However, the account holders with higher card variants can continue to benefit from the regular daily withdrawals. The average cash withdrawals from ATMs per card have been examined to be less than ₹20,000 a day and the lower limit will help in checking frauds and promote digital transactions. SBI alerted its account holders, the ones with the Classic and Maestro debit cards, regarding the reduction in the limits about a month ago. The users with Gold and Platinum cards will continue to enjoy higher withdrawal limits of ₹50,000 and ₹1 lakh a day, respectively. The bank has asked its customers to upgrade to the higher variants to enjoy higher ATM withdrawals. The <a href="https://www.sbi.co.in/">SBI</a> website had put out the following message on the website: “Daily cash withdrawal limit for Classic and Maestro debit cards has been reduced from ₹40,000 to ₹20,000 per day with effect from October 31. If you require higher daily cash withdrawal limit, please apply for a higher card variant.” The bank has initiated the lower limit to reduce fraudulent transactions and encourage cashless transactions. As reported by <a href="https://www.hindustantimes.com/business-news/sbi-halves-daily-atm-withdrawal-limit-to-rs-20k-for-certain-card-holders-from-october-31/story-qnfx5bBNW7oC1pyWgeUQYK.html">Hindustan Times</a>, the ATM transactions were analysed and it was found that majority of the frauds reported to the bank happened to be of ₹40,000 that is the maximum limit per day. The reduced withdrawal limit was picked to protect customers and encourage digital transactions, SBI Managing Director PK Gupta explained. As per <a href="https://economictimes.indiatimes.com/industry/banking/finance/banking/sbi-halves-daily-atm-cash-withdrawal-limit-to-rs-20000/articleshow/66021831.cms">reports</a>, multiple cases in the past saw a trend of stealing debit card PIN numbers via hidden cameras and electronic devices. The bank feels that the move will help to keep close check on fraudulent activities. However, enough are of the opinion that the debit card users are most prone to card frauds and the risk is not limited to ATMs. In India, the demand for cash continues to be high, despite the government promoting digital transactions. But, daily transactions have been reported to be of amounts lesser than ₹20,000, so this move should help to track frauds on ATM transactions. A large number of card users are to be impacted by the reduced limits since SBI’s Classic card holds a majority of its card portfolio.

State Bank of India halves withdrawal limit at ATMs to ₹20,000 per day to prevent fraud

<keyword id="62034" type="CITY" weightage="20" keywordseo="Punjab-National-Bank">Punjab National Bank</keyword> (<keyword id="47268" type="ORGANIZATION" weightage="20" keywordseo="PNB">PNB</keyword>) Maestro debit cards holders will face a card blockage if they fail to replace it with a more secure <keyword id="726464" type="ORGANIZATION" weightage="20" keywordseo="EMV">EMV</keyword> chip based card by the end of this month, according to PTI news report. The bank will not charge anything for the replacement and it will be provided free of cost. "If you are having Maestro debit card, git replaced free of cost with a new EMV chip based debit card from any PNB branch. All Maestro cards issued by PNB will be blocked or hotlisted on July 31, 2017 for security based reasons," the bank said in a communication to its customers. The replacement is as per RBI advisory issued in 2015, asking all the banks to migrate to a much secured EMV chip based cards, an official of the bank said. The bank has identified that there are about one lakh customers with old Maestro debit cards and has started sending them SMSes as well, an official of the bank said. Presently, PNB's card base stands at around 5.65 crore. "However, we have excluded those customers who are not using these Maestro debit cards at all with not even a single transaction in a year as making of cards involves cost as well as time," the official said. As per RBI advisory, existing magnetic stripe only cards need to be replaced with EMV chip and pin based cards by December 31, 2018, irrespective of the validity period of the cards. And from January 31, 2016 onwards, banks are directed to issue only EMV based debit and credit cards. Card replacement is important, keeping in mind digital drive of the government that has led to a drastic rise in debit card usage. "Now, people are taking interest in using debit cards. Young generation definitely use it, but people over 40 years of age are also using it and taking help from children to learn card usage," the official said.1

This is why PNB Debit cards will get blocked after 31 July

As festive season approached, <keyword id="6372865" type="General" weightage="80" keywordseo="citi" source="Orion">Citi</keyword> and <keyword id="6368201" type="General" weightage="100" keywordseo="mastercard" source="Orion">Mastercard</keyword> came together to ensure the celebrations remained totally uninterrupted! They curated a range of offers and privileges for their consumers to enable them to kick-start their celebrations without having to wait anymore. These brands didn’t just stop at providing functional benefits but truly brought joy and touched their consumer’s hearts by collaborating with country’s finest talents. Two of the most beloved names in our country- <keyword id="4457" type="General" weightage="20" keywordseo="shankar-mahadevan" source="Orion">Shankar Mahadevan</keyword> and <keyword id="6354563" type="General" weightage="20" keywordseo="hrithik-roshan" source="Orion">Hrithik Roshan</keyword> joined hands to bring about the flavour of the season. The Citi - Mastercard campaign brought about a priceless song and dance routine, with the maestros at the helm. <div type="Youtube" id="kkF9W70xS1k" title="Uninterrupted Celebrations with Citi" thumbUrl="https://i.ytimg.com/vi/kkF9W70xS1k/mqdefault.jpg"></div> If you thought you needed a better reason to celebrate, to connect with your loved ones, - this music video gave you all the reason you needed. Music maestro’s melodies combined with the movie star’s unstoppable dancing skills, led to genesis of a creative masterpiece that inspired many to celebrated uninterrupted this Diwali... Citi truly ensured uninterrupted celebrations, not just through this music video but by enabling its consumers to do a little more by its range of offering across credit and debit cards, usage offers and digital services. The campaign song “Celebration Uninterrupted” has the Mastercard sonic woven into its DNA. Therefore, when a lot of us Mastercard users listen to the track, we get a sense of familiarity. This is a fresh approach to weave a piece of the brand's iconic identity into the pop culture conversation. “This festive season we bring back the fun, by fulfilling those overdue commitments and spending quality time with our loved ones. This being a special year, we went all out by creating our very own festive anthem to the words and music of legendary Shankar Mahadevan and the moves of Indian superstar Hrithik Roshan shot internationally. Our campaign is live across multiple platforms and we are excited to bring this unique collaboration exclusively for the festive season to our clients.” said Arnika Dixit – Business Head - Credit Cards, Digital, Data and Marketing, Citibank India Not only was this campaign one of its kind in its utilization of a song and dance routine, it also included an entire 360-degree integration across platforms- be it OOH or print, digital or OTT. This integration ensured that the anthem got a formidable response among media portals and influencers alike. “Music is a powerful way to create an emotionally and culturally relevant connection with consumers. This being the biggest festive anthem of the year, Mastercard in collaboration with Citi brings you an experience that is truly Priceless. The distinct and memorable Mastercard melody, Sonic, will bring an additional layer of assurance to consumers about the safety and security that comes with their Mastercard. Owing to the credibility and authenticity these renowned personalities bring, our campaign narrative aims to resonate with the audience at a personal level,” added Manasi Narasimhan, Vice President, India South Asia at Mastercard. That's how, in a new form, Citi and Mastercard leveraged India’s cultural nuances like music and dancing to build a message that kindled a spark of happiness for all. As we look towards ending this year on a more positive note, treat yourself to ‘uninterrupted celebrations.’ Disclaimer: This is a sponsored post in partnership with Yellawe

Shankar Mahadevan's new song has Hrithik Roshan grooving to the beat, igniting uninterrupted celebrations for India – the Citi Mastercard way!

You Searched For "Maestro debit card" and got 3 results

State Bank of India halves withdrawal limit at ATMs to ₹20,000 per day to prevent fraud

BI India Bureau

This is why PNB Debit cards will get blocked after 31 July

BI India Bureau

Shankar Mahadevan's new song has Hrithik Roshan grooving to the beat, igniting uninterrupted celebrations for India – the Citi Mastercard way!

Insider Studios

Popular Keywords

Buying Guides