Over the course of the next two months, India’s largest public lender, State Bank of India, is shutting down four services for customers. Apart from its earlier announcement that magnetic stripe-based debit cards would stop working by the end of the year, SBI is imposing restrictions on cash withdrawals, and making changes to its online banking services and rules. Here are the details. SBI had imposed a cash restriction withdrawal for particular cards From October 31, SBI account holders using Classic and Maestro ATM-cum-debit cards will be unable to to withdraw more than Rs. 20,000 per day. The withdrawal limit for these cards was Rs. 40,000, but SBI has reduced it to prevent ATM fraud and promote digital transactions. The restriction is expected to affect many. However, customers can switch to other cards offered by SBI if they want a higher withdrawal limit. SBI is shutting down e-wallet SBI Buddy on November 1 SBI is also shutting down its mobile wallet, SBI ...
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