SBI says customers can use debit cards without concern

The country's largest bank SBI today said its existing debit cards are not at any risk and customers can use them without any concern.
"We would like to emphasise that our bank's system is absolutely robust and secured and existing debit cards are not at any risk and can securely continue to enjoy the superior banking services on their State Bank debit cards for transactions at ATMs, point of sale (PoS) terminals and on e-commerce websites, without any concern," the bank said in a regulatory filing.
The Bank's response came to a clarification sought by stock exchange on recent reports on debit cards blocking in the wake of suspected data breach.

On the suspected debit card data breach, SBI said the bank was alerted by card network -- Visa/MasterCard and RuPay that they have been notified by multiple acquires of a potential data vulnerability at their payment card processor system that may put member bank's cards at risk.
"After receipt of the alerts from the networks, bank has proactively taken measures to ensure full security of all cards which had even the remotest possibility of being at risk," SBI said.
All these cards have been blocked and replacement cards have been sent to all such customers, without any cost, it said further.

Besides, these customers were kept suitably informed, the bank added.

SBI said it also provided options to cardholders to choose channels of usage such as ATM/POS/e-commerce and restrict card usage to domestic and international through SBI Quick mobile application, internet banking or through SMS.
Customers can also set their own card limit through internet banking based on requirement, SBI said, adding these services are easy to operate and available free of cost to the cardholders.
SBI said this has been investigated thoroughly by cyber experts under guidance of NPCI and RBI and there is no security issue within the Bank.

Earlier on Tuesday, private sector ICICI Bank and HDFC Bank in their responses to the stock exchange had told that debit card data security breach was on account of third-party payment processor and the amount involved was not material.
Besides, Axis Bank and Yes Bank have also been asked to furnish their responses on the suspected data breach incident.
Taking cognisance of the gravity of cyber security, the Parliamentary Standing Committee on Finance headed by Congress MP Veerappa Moily, had asked officials from the finance ministry, corporate affairs ministry and various banks to appear before it on November 9.
The Reserve Bank of India has also initiated forensic audit to investigate the entire matter.

The suspected data breach is said to have affected over 32 lakh debit cards, where the security mishap happened through a malware in the systems of Hitachi Payments Services.