INSUBCONTINENT EXCLUSIVE:
SBI ATM daily limit: The bank has capped the withdrawal from its classic debit card to Rs 20,000 per dayState Bank of India (SBI) will
allow cash withdrawals of up to Rs 20,000 a day from its classic debit card
From October 31, a daily withdrawal limit of Rs 20,000 will be applicable to the bank's classic debit card, as against Rs 40,000 at
present, according to a report by news agency Press Trust of India
day, instead of the existing limit of Rs 40,000 per day
concerns about its security, Press Trust of India cited a senior bank official as saying.5
Meanwhile, SBI provides free-of-cost upgrade of debit card to its customers
The upgrade of existing debit card to an EMV chip-and-PIN debit card offers enhanced security, according to the bank.The Reserve Bank of
India (RBI) has set a December 31 deadline for commercial banks to migrate from magnetic stripe-based cards to EMV chip-and-pin cards.
