It has been decided to grant extension of
time for issuance of EMV Chip and Pin cards as under:
Sr. No.
|
Type of Card/s
|
Time extended upto
|
1
|
Cards issued under PMJDY / Basic Savings
Bank Deposit Account (BSBDA) / other Government schemes
|
September 30, 2016
|
2
|
All cards other than (i) above
|
January 31, 2016
|
In case of specific requests from
customers, banks should promptly comply with the request. Besides, all cards
issued for international usage will necessarily be EMV Chip and Pin cards, as
already advised.
Regarding migration of existing cards,
banks have to ensure that the magnetic stripe cards would have to be replaced
by December 31, 2018 irrespective of the validity period of the card.
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