A new directive by Reserve Bank of India makes it mandatory to provide an extra password before any online payment made by credit/debit card is processed. Else, the payment will be rejected. The policy comes into effect from Aug 01 2009.
The Reserve Bank of India has passed a notification that all online payments done by credit/debit cards will be processed only after a secure code is provided by the users. This policy comes into effect from August 1. It is an extra measure – called Verified By Visa or MasterCard Secure Code – to safeguard your online payments.
If you don’t have pin registered you cannot use your own credit card for any of the transactions.Forward this to all your known friends.
To get this password, simply register your credit/debit card with the issuing bank’s website.
Here’s a quick list of banks and financial institutions –
ABN Amro Bank
Axis Bank
Barclays Bank
Canara Bank
Corporation Bank
Deutsche Bank
HDFC Bank
Punjab National Bank
Register using your credit card number ,date of birth details and secure your card from being misused in online transactions.This is a very good move from RBI as it will safeguard your credit card misuse and head ache from fighting with credit card banks to dispute the charges.
