SBI is going to block your net banking service in case of no linking of a mobile number

SBI has announced that from December 1, people who didn’t link their mobile number to their account can not take the benefits of net banking service. It is a big news from the biggest public lender of India. Bank has asked customers to register mobile numbers by November 30, 2018. Many people don’t register their numbers or register fake or old number while making an account in SBI. So the bank has stopped their net banking service because of security issues. Those customers who still didn’t apply for net banking service, they also have to register their phone numbers.

Bank said on its website that as per Reserve Bank of India (RBI) advisory, it is compulsory to register your mobile number to get benefits of internet banking services. On July 6, 2017, RBI made it mandatory for all banks to have registered mobile numbers of their customers for SMS notifications. Customers who didn’t register their mobile numbers with the SBI Bank will lose the internet banking services from December 1, 2018. Apart from mobile and net banking, all other facilities will remain active and there would be no block of the account number.

SBI also told people to upgrade their old magnetic strip debit cards to new EMV chip-based card till December 31. For this, you have to visit any SBI branch before the deadline. State Bank of India which is India’s largest bank by asset size and customer base also has the largest number of debit cards too. In August 2018, through all SBI debit and credit cards (via ATM and POS), the total transaction amount came out very huge which stands at Rs 1.33 lakh crore (approx), according to RBI ATM & Card data.