Comments
Banks must make provision to send online alerts to cardholders for all Card Not Present (CNP) transactions irrespective of the amount, by June 30, 2011, said the Reserve Bank of India, in a notification issued on Tuesday.
Earlier, the RBI had mandated banks to send online alerts for all CNP transactions of Rs 5,000 and above.
The RBI's latest move to make alerts mandatory for all amounts follows incidents of unauthorised or fraudulent withdrawals at ATMs, said the RBI.
“This measure is expected to encourage further usage of cards at various delivery channels,” the notice said.
Comments
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.