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of <h1>RBI Mandates Enhanced Security: Online Alerts, EMV Chip Cards, and AFA for Safer ATM and Debit Transactions.</h1> The Reserve Bank of India (RBI) has directed banks to implement enhanced security measures for ATM and debit card transactions. These include providing online alerts for all transactions, issuing new cards for domestic use unless international use is requested, and ensuring merchant terminals comply with PCI-DSS and PA-DSS standards. Additionally, existing Magstripe cards must be converted to EMV Chip and PIN cards, and an Additional Factor of Authentication (AFA) is required for all Card Not Present transactions. While no specific studies on foreign practices have been conducted, global best practices are considered in policy formulation.
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