Currently, except for the RBI there are appellate tribunals in the financial system for other bodies. The decisions of the appellate authority can then be challenged in the Supreme Court.
Cards with the EMV chip, named so after its creators Europay, MasterCard and Visa, were introduced as a more secure means of payment.
The government welcomes the assessment made by the RBI's MPC, said Subhash Chandra Garg, Secretary, Economic Affairs.
This development is in line with RBI guidelines to banks directing them to migrate entirely to debit and credit cards with EMV chips.
The SBI scheme was extended till December 15 earlier this month and is applicable on purchase worth Rs 100 or more from Indian Oil outlets.
A police case has been filed in this regard at Sector 20 police station that has been forwarded to the cyber crime cell.
The State Bank of India has extended the deadline for its free petrol scheme in collaboration with Indian Oil till December 15.
HDFC customers, who are facing issues with the new mobile app, can download the older version of the app from today evening.
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