This News is for Punjab National Bank debit card holders you will face card blokage if you don’t replace with more secure EMV(europay,mastercard, and visa) chip based card within the end of July. For this replacement bank will not charge eneything from the Costmer.
According to PNB “If you are having Maestro debit card, get it replaced free of cost with a new EMV chip based debit card from any PNB branch. All Maestro cards issued by PNB will be blocked or hotlisted on July 31, 2017 for security based reasons,”
This replacement is done after advisery issued by in 2015. According to this advisery all the bank must replace their debit card with EVM card.
According to PNB their are almost one lakh customer who still uses old maestro debit card. The bank stands SMS to their maestro card users about the replacement on as soon as possible basis.
Presently, PNB’s card base stands at around 5.65 crore.”However, we have excluded those customers who are not using these Maestro debit cards at all with not even a single transaction in a year as making of cards involves cost as well as time,” the official said.
According to RBI advisory all existing magnetic stripe only cards need to be replaced with EMV chip and pin based cards by December 31, 2018, irrespective of the validity period of the cards.
This Card replacement is important, keeping in mind digital drive of the government that has led to a drastic rise in debit card usage.
Now, people are taking interest in using debit cards. Young generation definitely use it, but people over 40 years of age are also using it and taking help from children to learn card usage,” According to RBI
So PNB maestro Debit Card Holders replace your card with EVM card as soon as possible Otherwise you will have to face much problems related to Debit card transaction.