New Cash Withdrawal Limit On SBI Classic Card Takes Effect From Tomorrow: 10 Points
- From Wednesday, SBI customers using the Classic debit card will be able to take out a maximum of Rs 20,000 every day from ATMs in a day.
- The move - aimed at checking fraudulent transactions - is in line with the Reserve Bank of India (RBI)'s directive on migration to EMV chip-and-pin cards.
- The Classic debit card is one among the many types of debit cards provided by SBI.
- The Classic debit card is not chip-based and so there are concerns about its security, PTI had cited a senior SBI official as saying.
- "The bank has been receiving many complaints regarding cloning. Due to this the decision is taken to reduce the withdrawal limit on these cards," the official explained.
- There is no change in the daily ATM withdrawal limits applicable to other SBI cards.
- The SBI Classic debit card, the agency reported, is the most popular ATM-cum-debit card provided by the bank.
- 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.
- RBI has set a December 31 deadline for commercial banks to migrate from magnetic stripe-based cards to EMV chip-and-pin cards.
- SBI issued over 39.5 crore debit cards with around 26 crore actively-used debit cards, as of March 2018.
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High US Salaries, No Green Card Certainty: The Financial Calculation Facing Indian H-1B Families
The suspension of PERM processing at eight technology employers does not cancel existing H-1B visas. What it does is force a question many Indian families have been avoiding: is the US salary worth tying your career and family plans to one employer?
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Swiggy vs Eternal: Food Delivery's Two Rivals Are No Longer In The Same Race
Eternal is building a private AI assistant, dark.ai. Swiggy is still working out how to make Instamart pay, with an operating loss of Rs 895 crore in the July-September quarter while Blinkit stayed profitable.
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Where You Live Shapes How You Get To Work | The Reason Why
Two-wheelers are the most popular way to get to work in India, accounting for nearly 43% of workplace commutes.
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Unhedged Position: Can India See An Indonesia-Style Time Correction?
The Nifty is trading below levels it first clocked in 2024. Is there, then, as I have suggested in the headline, potential that the current time correction drags on painfully for the next three-five, even ten years?
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Navigating Friction And Energy Realities: An Analysis Of Marco Rubio's October Visit To India
Occurring at a critical juncture marked by stalled trade negotiations and escalating geopolitical pressures over global energy supplies, the visit offers a profound window into modern US-India relations.
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India Exports Capital. Why Not Export Trusteeship?
The big question, then, is whether India can build an institution that global borrowers, investors, banks, and lawyers can trust, even without an Indian connection.
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France's Economy & Politics Are In Crisis | The Reason Why
Let's look at how the French economy and politics evolved under Nicolas Sarkozy, Franois Hollande and Emmanuel Macron.
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You May Inherit The Business. You Must Earn Its Credibility.
Succession tests the founder's ability to share authority as much as it tests the next generation's readiness to assume it.
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Signing Deals Is One Thing; Making Them Work Is Another | The Week In Whys
Sometimes, things don't turn out as planned. Indian companies have lost some bids to rivals, some projects won't produce until 2030.
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FOMC Wall, PERM Suspension, Hospital Stocks | Talking Points This Week
A PERM suspension would directly affect green-card sponsorship rather than H-1B visas, so the near-term earnings impact could remain relatively limited. The key question is whether this marks a new phase in US scrutiny of Indian IT.
