 "online payment, online transactions, credit card, payment")
The Reserve Bank of India (RBI) on Wednesday told banks that any fresh card issued should be only for physical use within India, such as in automated teller machines (ATMs) and point-of-sale (PoS) devices. Internet and other facilities can be activated only when the customer specifically requests for the same.
Customers will also have the option to cap the amount in any kind of transaction, for both physical and internet use, the central bank said.
For existing cards, banks will exercise their own discretion whether to allow cards for internet usage or not. But those cards that have never been used for
