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India’s largest bank, State Bank of India is planning to suspend the access of internet banking services for some of its customers who have not linked their mobile number with the account they hold.
In an announcement issued by State Bank of India (SBI) on its website, the bank has said: “It will be suspending the internet banking services for those users who have not registered their mobile number with their bank accounts. with the immediate effect on Dec 1.”
The Bank also said, “However, the suspension of the customers from using internet banking will not affect their account they hold and they will be able to access their account normally, but if the customer wants to avoid the suspension of their internet banking services they can reach to the nearest branch by Nov 30.”
Adding to this the bank also asked its customers to replace their old magstripe with the new EVM chip ones for free of charge by visiting the nearest SBI branch or on their website OnlineSBI.
The announcement has come after the Reserve Bank Of India (RBI) issued its new guidelines for the banks and customers by stating that “the older magstripe debit cards should be upgraded to EMV chip debit cards by the end of December.”