Banks advised to issue debit, credit cards with photo

Banks advised to issue debit, credit cards with photo.

Banks have been advised by the Reserve Bank of India (RBI)RBI-Reserve Bank of India, the central banking institution in India, to consider issuing debt and credit cards with photographs of the cardholders to prevent misuse of stolen cards, the Lok Sabha was informed today.

“Banks have been advised by the RBI that, with a view to reducing the instances of misuse of lost/stolen cards, they may consider issuing cards with photographs of the cardholders or any other advanced methods that may evolve from time to time,” Minister of State for Finance Namo Narain Meena said.

He said in the written reply that as regards credit cards, banks have been advised by the RBI to also consider cards with PIN and signature laminated cards or any other advanced methods.

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