Debit Card

Pernicious practices of select banks deterring customer protection and accounting integrity

RBI/2013-14/292 DBS.CO.PPD No. 3578 /11.01.005/2013-14 September 17, 2013 The Chairman/Chief Executive All Scheduled Commercial Banks (Excluding RRBs) / Local Area Banks Madam/Dear Sir, Pernicious practices of select banks deterring customer protection and accounting integrity Please refer to our circular DBS.CO.PPD No. 17882/11.01.005/2012-13 dated June 19, 2013, wherein we had observed certain disquieting features in certain practices/products… Read More

Tags: Commercial bankConsumer protectionCustomerDebit CardEMIInterestLoanRate of return

RBI Clarification on Cash withdrawal at Point of Sale

RBI/2013-14/231 DPSS.CO.PD.No.563/02.14.003/2013-14 September 5, 2013 The Chairman and Managing Director / Chief Executive Officers All Scheduled Commercial Banks including RRBs / Urban Co-operative Banks / State Co-operative Banks / District Central Co-operative Banks /All Card Network Providers Madam / Dear Sir, Cash withdrawal at Point of Sale (POS) - Prepaid Payment Instruments issued by banks… Read More

Tags: BankCentral bankCommercial bankDebit CardIndiaPoint of SalePOSReserve Bank

Migration of Post-dated cheques (PDC)/Equated Monthly Instalment (EMI) Cheques to Electronic Clearing Service (Debit)

RBI/2013-14/158 DPSS.CO.CHD.No./209/04.07.05/2013-14 July 24, 2013 The Chairman and Managing Director / Chief Executive Officer All Scheduled Commercial Banks including RRBs / Urban Co-operative Banks / State Co-operative Banks / District Central Co-operative Banks/Local Area Banks Madam / Dear Sir Migration of Post-dated cheques (PDC)/Equated Monthly Instalment (EMI) Cheques to Electronic Clearing Service (Debit) We invite… Read More

Tags: BankchequeCommercial bankCTS 2010Debit CardEMINegotiable Instruments Act 1881PDC

Master Circular on Credit Card, Debit Card and Rupee Denominated Cobranded Prepaid Card operations of banks

RBI/2013-14/60 DBOD.No.FSD.BC. 4/24.01.011/2013-14 July 1, 2013 Ashadha 10, 1935 (Saka) Dear Sir/Madam Master Circular on Credit Card, Debit Card and Rupee Denominated Cobranded Prepaid Card operations of banks Please refer to the Master Circular No.DBOD.FSD.BC.23/24.01.011/2012-13 dated July 2, 2012 consolidating the instructions/guidelines issued to banks and NBFCs on credit card operations of banks till June 30, 2012.… Read More

Tags: Automated teller machineCredit cardDebit CardFee (remuneration)June 30 2013Master Circulars 1st July 2013MasterCardSAKAStored-value cardUnited States

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