https://www.taxtmi.com/news?id=22778 Banks may issue electronic cards to natural persons with Overdraft Accounts in the nature of personal loans, provided card validity does not exceed the facility tenure and subject to lenders' rights. Card use is limited to domestic non cash/online transactions, with cash restrictions except for overdrafts linked to PMJDY accounts. Banks must have a Board approved policy addressing risk management, periodic review and grievance redressal; issuance must comply with existing debit card instructions, security and confidentiality requirements of the Reserve Bank. en-us Thu, 23 Apr 2020 19:00:43 +0530 Thu, 23 Apr 2020 19:00:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=22778 Banks may issue electronic cards to natural persons with Overdraft Accounts in the nature of personal loans, provided card validity does not exceed the facility tenure and subject to lenders' rights. Card use is limited to domestic non cash/online transactions, with cash restrictions except for overdrafts linked to PMJDY accounts. Banks must have a Board approved policy addressing risk management, periodic review and grievance redressal; issuance must comply with existing debit card instructions, security and confidentiality requirements of the Reserve Bank. News - Thu, 23 Apr 2020 19:00:43 +0530 https://www.taxtmi.com/news?id=22778