EVM based ATM Debit Cards
As per RBI guidelines EVM based ATM Debit Cards will replace the chip based Debit card by 31.12.2018. Now customers have started receiving their new EVM ATM Debit Cards from banks at their registered home address. The customers who received EVM Debit Cards, did not make any individual request. Their banks automatically replaced it, as it is a RBI directive. But SBI, wants their clients to individually, either on line(who has internet banking facility) or by visiting home branch to make a request based on which the new cards will be sent to them. When RBI has mandated it, why SBI, waiting for individual requests to process and dispatch the cards to customers. In my opinion, the exercise of every SBI customer making a request, is a waste of time and can be avoided, if SBI do it on their own. more
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A local circles member who I presume must be from a banking background made a very interesting review on my post. The two noteworthy lines from his post are reproduced below: “The person who originated this post doesn't know the practical side of card issue. He is, at best, trying to become a hero overnight by bringing up some foolish idea” That said it all. His compliment is well appreciated. I believe, Local Circles is a platform for sharing our concerns, opinions, suggestions, experiences etc., on common issues affecting our daily lives. And that exactly is what we all do. As I can understand, quite a lot of people around us, including some of the local circle members received debit cards from SBI, without specifically making a request, either on line or visiting home branch. Others may have to scramble to their home branch to get it before 31st December, 2018. more
Dec 10
That is why I call it Sarkari Bank of India. Pvt banks have sent it without even calling me. Just messaged that your chip based card is dispatched. But SBI and even cooperative banks want you to make 100s of rounds to their branch to get the new card. That is how India works. more
Dec 03
There should not be any request as RBI issued guidelines for EVM based ATM Debit Cards to replace the chip based Debit card more
Dec 02
RBI, the regulator, cannot impose any condition of providing services and force acceptance. Consent of the consumer is a must. It would have been advisable had the Regulator, RBI, had first informed consumers why EVM based ATM debit cards are being introduced before mandating it. It will be still better if the home bank sends sms messages to customers (without any charge) informing the reasons why the Regulator has mandated the new facility replacing the old one. I hope the Regulator is listening, so are the home banks. more
Dec 02
