RBI pushes banks to enhance the security of card acceptance in India

Mon, Jun 3, 2013: As part of efforts to fight against card frauds and cyber-attacks, Reserve Bank of India (RBI), India’s central bank has mandated all the banks in the country to ensure their merchant terminals are certified for PCI-DSS and PA-DSS by June 30, 2013. RBI also asking card issuing bank to migrate magnetic stripe credit cards to EMV chip cards as soon as possible to safeguard consumers against fraud.