Some SBI account holders are receiving messages from the bank stating that their debit cards have been blocked permanently. The reason behind the blockade is that the bank has decided to replace Magstripe Debit Cards with EMV Chip debit cards for security reasons.
The bank, on its website, says that due to security issues and compliance with RBI guidelines, the bank has decided to block magstripe debit cards permanently.
To get the replacement, account holders will have to visit the bank or apply through internet banking (www.onlinesbi.com ). SBI will issue the EMV Chip Debit Card free of cost.
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