Millions of debit cards to be changed

debit-cardsBank customers across the country will either replace or change the security codes of as many as 3.2 million debit cards on fears of potential breaches..

Of the debit cards affected, 2.6 million are on Visa and MasterCard platforms, while 600,000 are on the home-grown RuPay platform, a report said citing unnamed people aware of the matter.

The worst-hit of the card-issuing banks are State Bank of India, HDFC Bank, ICICI Bank, Yes Bank and Axis Bank, the paper said.

No. 1 lender State Bank of India said in a statement, “SBI has taken precautionary measures and have blocked cards of certain customers identified by the networks… existing card holders are not at any risk and can continue to use their cards.”

There were 697.2 million debit cards in India as of end-July, according to data from the central bank.

Medaram Jathara

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