India’s largest bank, SBI, has recently issued a notice on its official website, informing customers that, “It has been decided by the Bank that all the Magstripe Debit Cards which are in blocked state as on 28-Feb-2017 and to all such requests for blocking thereafter will remain blocked permanently. Instead free EMV Chip Cards have to be issued to them. The affected cardholders are to be advised to apply for replacement EMV Chip Card through internet banking or by approaching their home Branch.
The company made the announcement on Twitter as well. It stated, “Dear Customers, it’s time to make a shift. As per the RBI guidelines, you are required to change your Magstripe Debit Cards to EMV Chip Debit Cards by the end of 2018. The conversion process is absolutely safe and comes with no charges.”
It is advisable for all SBI Debit Card holders to get their old Magstripe Debit Cards replaced with the EMV Chip Cards before December 31 this year. If not replaced, customers will not be able to use their debit Cards in SBI ATM machines.The State Bank of India (SBI) is considered to be the most patriotic brand, according to a survey, followed by Tata Motors, Patanjali, Reliance Jio and BSNL. Around 16% respondents ranked SBI to be the most patriotic brand overall, followed by Tata Motors and Patanjali with 8% each, and Reliance Jio and BSNL with 6% each, the survey conducted by UK-based online market research and data analytics firm YouGov said.In terms of sectors, the financial sector topped the chart of the most patriotic brands with two leading names – SBI and Life Insurance Corporation (LIC) – followed by auto, consumer goods, food and telecom sectors.
The survey, which covered 152 brands across 11 categories, is based on data collected online by YouGov Omnibus among 1,193 respondents in the country between August 2 and August 8 using its panel of an online representation of India. In the financial sector, SBI lead the chart with 47% respondents considering it to be the most patriotic brand, followed by LIC with 16%.