Reserve Bank of India (RBI) News & Updates

[Jonas]

Yeah yeah, that's not the problem. I got it reversed. What became a pain is unexpected unauthorised registration for insurance. Thankfully it didn't auto renew this year.

 

[royalroy]

I think it's possible to link one debit card with 2 or 3 accounts in SBI. I can see that on the online site portal

 

[Sushubh]

RBI Monetary Policy: RTGS, NEFT money transfer facilities extended beyond banks

Till now, only banks were allowed to use RTGS and NEFT payments facilities.The aim is to encourage participation of non-banks across payment systems, the central bank said

www-livemint-com.cdn.ampproject.org

 

[Sushubh]

Source

 

[Navjot Singh]

And the banks will find another reason to raise ATM charges.

 

[minuteman]

If the above tweet is right axis bank will be in big trouble. I haven't seen a fully loaded axis atm near my vicinity all are empty every time.

 

---

[Sushubh]

It's 10k per month. Probably a fraction of what they pay as rent.

 

[Sushubh]

Source



Source

 

[Navjot Singh]

It's amazing how the Indian government blocks so much content from being accessed outside India. I was using VPN and couldn't open the link.

 

[mikrotik]

New RBI rules: You don't have to memorize 16-digit debit, credit card numbers

RBI has refused to extend its deadline for card tokenisation beyond 1 January 2022

www.livemint.com

Can someone ELI5?

 

[minuteman]

@mikrotik card details will be replaced by a token code issued for the particular site from the card issuer. Websites can save the token so user don't have to enter card details everytime since the token only valid for particular site it will be safe and easily revoked from the user end.

 

[Sushubh]

lol what does that mean? user would have to generate virtual cards? user enter their card information on these websites. rarely are you asked to enter your card details on the payment gateway itself.

 

[minuteman]

@Sushubh when you enter the card details for the 1st time website will request the card issuer to generate a digital card number (token) after issuing website use this card number to authorize purchases check Google Pay they're already doing this with sbi cc I can revoke the token from my cc account

 

[Sushubh]

that's the thing. this is something that would require millions of websites to change how they work. user has no control over it. at best it would break payments on non complying website while they would still end up saving your card details 👀

i am sure serious players would fix the issue. but this does not solve the problem with shady websites getting hold of your actual card details 🤔

 

[mikrotik]

Actual issue is the international PG. They are still processing payments without 2FA.