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With so much happening in life, it can be difficult to keep yourself informed about everything; especially with the current situation we are all in. However, it is crucial to keep yourself up to date with the latest announcements from your bank regarding new guidelines or notifications. In case you don’t, you might end up surprised to see your savings account balance lower than before or your credit card barred for say online transactions.
Your bank will make sure to keep you updated with the latest news or guidelines via text and email. But, to err is human; so we may often miss them or lose them in our inbox that is already filled with emails marked urgent. One such example is the new update that many of us did not pay heed to. It is when the Reserve Bank of India (RBI), the nation’s central bank introduced new debit & credit card rules, which came into effect on 1st October 2020.
The central bank introduced these new rules to tackle the increasing number of fraud cases and to make debit and credit cards more secure.
If you did not know this, don’t worry, we’ve got you! Here’s a short guide to help you understand better:
Always read the text messages and emails your bank sends you, be it new offers or your savings account balance; they will help you make quick decisions, if needed. In case, you want to know more about these rules, you can always talk to your service provider by either calling the branch or messaging them on their social media handles.
Remember, it is important to know the new rules and regulations as they will help you keep a closer look at your hard-earned money. Plus, you can also help your family members and colleagues by keeping them informed too. After all, a good deed never goes unnoticed.
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