Saturday, March 2, 2013

RBI to banks: Impose limit on global card transactions

....The Reserve Bank said that a monetary limit of $ 500 be imposed by issuing bank on all global cards which has not been used in the past. " All the active magstripe international cards issued by banks should have threshold limit for international usage. The threshold should be determined by the banks based on the risk profile of the customer and accepted by the customer by June 30," it said.......

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