These debit/credit cards may stop working if you don’t do this before December 31. The Reserve Bank of India (RBI) in 2015 had issued a directive to all bank across India mandating them to get rid of old magnetic stripe cards. This is because magnetic stripe cards can easily be skimmed. As per the RBI directive, all magnetic stripe cards must be replaced by EMV chip cards by December 31, else the older magnetic stripe cards may stop working from January 1, 2019. Here is everything you need to know.
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