Country’s largest lender SBI will issue EMV chip and pin based debit cards to its new customers to ensure enhanced secure transactions. EMV chip and pin feature protects against skimming and card transaction frauds.
“All SBI customers opening accounts with the bank henceforth will receive this EMV chip and pin-based debit cards. Existing customers can also request for upgrading their card by visiting their home branch against payment of nominal fee”, the bank said in a statement.
With this, SBI said, it has become the first large bank to issue 100 per cent EMV cards compliant with RBI's directive on Security and Risk Mitigation Measures for Card Present and Electronic Payment Transactions.