Effective from June 30, 2011, all the banks must send the SMS for all the transactions done through credit card or debit card. It is another step taken by the RBI to curb the fraudulent. At this point of time, only few banks (ICICI, HDFC, Axis, SBI) offering the SMS service to the customers. But, there will not be any extra investment for the banks in this regard.
At present, banks are required to alert customers on transactions above Rs 5,000 using card numbers or while making online payments. However, SMS alert is sent on the transaction of more than Rs 250. ICICI bank provides alert service on the transaction of more than Rs 400. After this announcement, banks must send SMS for all the transactions.
This would encourage customers to use the cards and make them aware of the transactions made on the card. Nowadays more number of fraud incidents happening through ATMs by the stolen cards. Also, RBI is discussing with the banks to add some more security measures like asking for the PIN while doing the purchase in shops. This would avoid any misuse of the cards by the thieves.
July 4, 2011 at 9:53 pm
Hai Krishna,
It is necessary to give instant message to customers when their account is used. RBI took a good step for “reducing” the fraudlent activities.
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All the very best to your future works
thanks
RINU RAJAN
July 4, 2011 at 10:22 pm
A good avenue for all financial matters..
July 4, 2011 at 10:54 pm
It is good step by the RBI. There are many good steps taken by RBI to facilitate the customers. Fro example, increased the Savings Bank account interest rate increased to 4% p.a.
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Thanks,
Krishna
July 5, 2011 at 2:33 am
Dear all,
It is good to note that all transaction shall be informed by SMS . Over and above , entering PIN no. during shoping /physical use in shops is a proven method of avoinding fradulant use of ant c cards.
In foreign , I have seen that this PIN entery is must like in Singapore while using UR credit catd for any purchase in supermarkets etc.
Thanks
alok
October 16, 2011 at 12:35 am
Dear sir i am having the saving account in your bank. My account no.is 01811050019606. I request you to please activte the sms alert system for all transactions made from my account. My mobile no.is 9922199571. Please activate the sms alert syatem.
July 18, 2012 at 8:59 pm
please go to your base branch where you maintain your account. give request to active sms alert for your account
May 31, 2012 at 11:32 pm
MR. UNNIKRISHNAN
JUNE 1.06.2012
Dear sir i am having the saving account in your bank. My account no.is 018101518744. I request you to please activate the sms alert system for all transactions made from my account. My mobile no.is 09037750651. Please activate the sms alert syatem.
May 31, 2012 at 11:38 pm
MR.UNNI KRISHNAN Says:
May 31, 2012 at 11:32 pm
MR. UNNIKRISHNAN
JUNE 1.06.2012
Dear sir i am having the saving account in your bank. My account no.is 018101518744. I request you to please activate the sms alert system for all transactions made from my account. My mobile no.is 09037750651. Please activate the sms alert syatem.
Reply
July 31, 2012 at 12:03 pm
Dear sir i am having the saving account in your bank. My account no.is 01301050076982. I request you to please activate the sms alert system for all transactions made from my account. My mobile no.is 9480689822, I have already activate the same in Gadag branch but still they not provide activation, plz do the needful at earliest
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