<h1>RBI Permits Banks to Issue E-Cards for Overdraft Accounts; Non-Cash Use Only, Except PMJDY Accounts.</h1> The Reserve Bank of India has allowed banks to issue electronic cards to individuals with overdraft accounts that function as personal loans without specific end-use restrictions. These cards can be used for domestic, non-cash transactions, and are not permitted for cash transactions, except for overdraft facilities linked to Pradhan Mantri Jan Dhan Yojana accounts. Banks must establish a Board-approved policy addressing risk management, periodic reviews, and grievance redressal before launching these cards. The issuance of these cards will adhere to existing guidelines on terms, security, and confidentiality applicable to debit cards.