New rules for international transactions through credit and debit cards from today

The new debit and credit card rules to improve protection and to reduce fraud kick in on 16 March. RBI had released new rules in January to boost the consumer experience and enhance card transaction protection. Now, at the time the card was issued/reissued it directed banks to allow only domestic card transactions at ATMs and PoS terminals in India. Customers would have to individually set up their accounts for international transactions, electronic purchases, and contactless transactions.

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