SBI has suggested replacing magnetic strip debit cards with EMV chip cards. Debit cards should be e

State Bank of India (SBI), India's largest bank, has made its customers pay. SBI has suggested replacing magnetic strip debit cards with EMV chip cards. Debit cards should be exchanged by December 31st. Magstrip debit cards will not work until December 31st.

As per RBI rules, we have already replaced magnetic strip debit cards with EMV chip and pin based cards. There are still frauds with magnetic strip cards. That is why we will deactivate these cards after December 31st. Malfunction.





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