Email alerts on card transactions from June 30

Email alerts on card transactions from June 30

 The guidelines issued to the lenders by the Reserve Bank is aimed at checking fraudulent transactions and encouraging usage of cards by customers.

“It is decided that banks make take steps to put in place a system of online alerts for all types of transactions, irrespective of the amount, involving usage of cards at various channels,” the RBI said.

This measure is expected to encourage further usage of cards at various delivery channels. Banks may implement this measure latest by June 30, 2011, the Reserve Bank added.