While making online purchases, the cardholder will have to use this second verification apart from the card verification value number, which is the main saftey parameter used presently. As per the RBI guidelines, customers will have to register their cards from tomorrow onwards with the respective merchants--Visa or Master Card and create a security password.
Bankers have decided to fight back against 'arbitrary arrests' and 'harassment' by probe agencies.
RBI Governor would like to wait till Budget before taking any action on rate front.
Bankers said high interest rate could make Indian economy sluggish given that inflation is around 5%
This is one of the many such cases that helped to create an acute fear psychosis among public sector bankers, reveals Tamal Bandyopadhyay in his fascinating new book Pandemonium: The Great Indian Banking Tragedy.