RBI'S NEW DEBIT CARD AND CREDIT CARD RULES IN INDIA.
                     RBI''S  NEW  DEBIT  
CARD  AND  CREDIT  
CARD  RULES  IN  INDIA
Introduction
• In an attempt to make digital payments using debit cards and credit cards 
more secure, the Reserve Bank of India (RBI) has issued several new 
guidelines that will come into effect from today, 1 October 2020. 
Source: Livemint
RULE 1
• At the time of issue / re-issue, all debit, credit cards shall be enabled for use 
only at ATMs and Point of Sale (PoS) devices within India.
Source: Livemint
RULE 2
• If customers want to use their debit, credit cards outside India, they would 
need to request their banks for the facility. 
• Before the notification, most banks issued cards that, by default, could be 
used anywhere in the world.
Source: India Tv
RULE 3
• For existing debit, credit cards, issuers may take a decision, based on their 
risk perception, whether to disable the card not present (domestic and 
international) transactions, card present (international) transactions and 
contactless transaction rights.
Source: Trak.in
RULE 4
• All banks, card issuing companies have been asked by RBI to disable online 
payment for all debit, credit cards that have never been used for online or 
for contactless transactions in India or abroad.
Source: Times Now
RULE 5
• As per new rules, people will now be able to register for preferences such as 
opt-in or opt-out services, spend limits and other services for online 
transactions, international transactions and contactless transactions.
Source: Livemint
RULE 6
• Users will have 24x7 access to switch ON/OFF or change all transaction limits 
via all available channels  mobile application / internet banking / ATMs / 
Interactive Voice Response (IVR).
Source: Business Insider
RULE 7
• Many banks have also been issuing cards based on near field communication 
(NFC) technology. A merchant doesn’t need to swipe such cards or insert 
them in the point of sale terminal. 
• These are also known as contactless cards. Card holders will also get the 
option to enable or disable the NFC feature also.
Source: The Financial Express
RULE 8
• Card holders on both debit and credit will have a new facility to set up 
transaction limit.
• These directions are issued under Section 10(2) of the Payment and 
Settlement Systems Act, 2007 (Act 51 of 2007).
Source: The Better India
RULE 9
• The new regulations apply to debit and credit card only. Prepaid gift cards or 
those used at mass transit systems (such as metro) are not covered under 
this.
These measures assume significance amid rising instances of cyber frauds, and 
will make debit, credit cards more secure and curb their misuse.
Source: Saying Truth