UCBs - Credit/Debit Card Transactions - Security Issues and Risk Mitigation Measures

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Published on March 06, 2009

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UCBs - Credit/Debit Card Transactions - Security Issues and Risk Mitigation Measures

RBI/2008-09/402

UBD.CO. BPD. (PCB) Cir. No. 52/13.05.000/2008-09

March 6 , 2009

To
Chief Executive Officer
All Primary (Urban) Co-operative Banks

Dear Sir / Madam

Credit / Debit Card transactions-
Security Issues and Risk mitigation measures

We enclose a copy of circular issued by Department of Payment and Settlement Systems, Reserve Bank of India, DPSS.No.1501/02.14.003/2008-09 dated February 18, 2009 advising the banks to enhance the risk mitigation security measures for online card transactions. The directions have been issued under Section 18 of Payment and Settlement Systems Act 2007 (Act 51 of 2007).

2. Please acknowledge receipt to the respective Regional Office of Reserve Bank of India.

Yours faithfully,

(S.S.Barik)
General Manager

Encl: One