Withdraw cash at Shopping Counters

Now you can withdraw cash at shops (point of sale). Yup one more gift from Reserve Bank of India to banking customers. When I was in US I noticed that we can have a cash withdraw (they called it cashback) at the sales counters while swiping my card. Till date there is no such provision in INDIA. But now Reserve Bank of India, on 22 July 2009 issued a notification which will enable consumer to take cash upto 1000Rs/day at sales counters.

Well this is indeed a very encouraging step for banks because this will increase accessibility to customers. As per the data published in RBI notification “As on May 31, 2009, number of ATMs and POS terminals in the country stood at 44,857 and 4,70,237 respectively”. So obviously consumers will have 10 times more accessibility to cash that before. One thing which is most exciting about this notification is the inclusion of term that “The facility is available irrespective of whether the card holder makes a purchase or not”. So, now this is upto the banks to do the due diligence and start the service.

Let`s have a look on RBI circular Text

Webpage
http://www.rbi.org.in/scripts/NotificationUser.aspx?Id=5184&Mode=0

PDF Format
http://rbidocs.rbi.org.in/rdocs/notification/PDFs/CWCI220709.pdf

The only thing which is not clear is about the charges. Will there be any charge or fee for using the service or it will be free as the use of ATM (Automatic Teller Machines).

Online Shopping will be more secured from August 2009

Reserve bank of India is taking serious steps to make our online shopping and transactions with credit cards much secure. Well I am little late to post about it but from August 1st 2009 ,as per RBI notification date February 18,2009 your credit card will not work online until you register it with “Verified with VISA” or “Master card 3D secure”. Actually it is nothing but providing an extra level of authorization to make the process more secure.

As per Reserve Bank of India,

It would be mandatory to put in place with effect from August 01, 2009:

i) A system of providing for additional authentication/validation based on information not visible on the cards for all on-line card not present transactions except IVR transactions (for which separate instructions will follow).

ii) A system of "Online Alerts" to the cardholder for all 'card not present' transactions of the value of Rs. 5,000/ and above.

3. Banks are advised to strictly adhere to the instructions and time discipline indicated in this circular. Non-adherence to the directives shall attract penalties prescribed under the Payment and Settlement Systems Act 2007 (Act 51 of 2007).

Please find the Reserve Bank Notification Here


No the question is, how to register for Verified by VISA or Master card 3D secure code?

It’s very simple to register for this extra level of protection and it is available Free of cost. You need to register your card with the Card issuing Bank on their website. For your convenience, I am putting links of main banks. Just click on the links and register your card. Few of the banks are taking your Internet banking password in place of “Verified by VISA or Master card 3D secure code”, but better to have a check.

* ABN Amro
http://www.abnamro.co.in/consumer/creditcard/secureCode.html?utm_source=mlrccsafe&utm_medium=mlrccsafeabnamro&utm_campaign=mlrccsafejuly

* Andhra Bank
https://cardsecurity.enstage.com/ACSWeb/EnrollWeb/AndhraBank/main/index.jsp?utm_source=mlrccsafe&utm_medium=mlrccsafeandhrabank&utm_campaign=mlrccsafejuly

* Axis Bank
http://www.axisbank.com/personal/cards/platinumcreditcard/CreditCard-Verified-By-Visa.asp?utm_source=mlrccsafe&utm_medium=mlrccsafeaxisbank&utm_campaign=mlrccsafejuly

* Citibank
https://www.citibank.co.in/ssjsps/ssindex.do?utm_source=mlrccsafe&utm_medium=mlrccsafecitibank&utm_campaign=mlrccsafejuly

* Deutsche Bank
https://www.dbindia.in/DeutscheBank/enrollment/newuser.jsp?utm_source=mlrccsafe&utm_medium=mlrccsafedeutschebank&utm_campaign=mlrccsafejuly

* HDFC Bank
http://www.hdfcbank.com/campaign/visa/visa.htm?utm_source=mlrccsafe&utm_medium=mlrccsafehdfcbank&utm_campaign=mlrccsafejuly

* HSBC Bank
http://www.hsbc.co.in/1/2/personal/credit-cards/secure-online-payment-services?utm_source=mlrccsafe&utm_medium=mlrccsafehsbc&utm_campaign=mlrccsafejuly

* ICICI Bank
https://www.3dsecure.icicibank.com/ACSWeb/EnrollWeb/ICICIBank/main/index.jsp?utm_source=mlrccsafe&utm_medium=mlrccsafeicicibank&utm_campaign=mlrccsafejuly

* Karur Vysya Bank
https://cardsecurity.enstage.com/ACSWeb/EnrollWeb/KVB/main/vbv.jsp?utm_source=mlrccsafe&utm_medium=mlrccsafekarurvysya&utm_campaign=mlrccsafejuly

* Kotak Mahindra Bank
http://www.kotakcards.com/kotak/cclive/support.html?utm_source=mlrccsafe&utm_medium=mlrccsafekotakbank&utm_campaign=mlrccsafejuly

* Standard Chartered
http://www.standardchartered.co.in/personal/credit-cards/en/3d_secure.html?utm_source=mlrccsafe&utm_medium=mlrccsafestanchart&utm_campaign=mlrccsafejuly

* State Bank of India
https://secure4.arcot.com/vpas/sbi_vbvisa/enroll/index.jsp?locale=en_US&bankid=6897&utm_source=mlrccsafe&utm_medium=mlrccsafesbi&utm_campaign=mlrccsafejuly

From 1st August 2009 onwards, after entering your credit card details at the time of making payment, you will be redirected to your bank's VBV / Master Card Secure authentication page where you will be prompted to enter the password defined by you at the time of registration. Upon successful authentication, you will be redirected back to the merchant.

So hurry up and register your card before 1st August 2009.

SMS BASED SERVICE FOR CHALLAN STATUS FOR TIN-NSDL

Tax Information Network (TIN) hosted by National Securities Depository Limited (NSDL) on behalf of Income Tax Department (ITD) gives you a facility to verify whether the banks have correctly uploaded the details of your tax deposit to ITD through SMS.

SMS based verification

The procedure for availing this facility is as under:

1. Send an SMS to 575758 with a message containing the word CSI followed by a space and CIN provided by the respective Bank at the time of making the Direct tax payment and the amount.

2. Challan Identification Number (CIN) consists of BSR Code of Collecting Branch (seven digit), Challan Tender Date (DDMMYYYY) and Challan Serial No (length less than or equal to 5 digit).

3. The amount is an optional field. If you provide the amount in the SMS you would get the confirmation whether the amount uploaded by bank matches with the amount paid by you.

4. Each of BSR code, Tender date, the challan serial number and amount should be separated by commas

For e.g., if the tax payer input “CSI 0510001,11032009,5,5000” where in

“0510001” is the BSR code of the collecting branch,

“11032009” is the Challan tender date,

“5” is the Challan serial number and

“5000” is the amount paid by the taxpayer.

The tax payer will get the information against which TAN/PAN the payment has been accounted with the confirmation whether amount entered is matched or not.

(This is an illustrative CIN, actual CIN should be provided in the SMS).

There will be special charges for these SMS. These charges may vary from one mobile service-provider to another. The charge structure can be obtained from the concerned service-provider.

Online Challan Status Inquiry

You can also get the status of your CIN from www.tin-nsdl.com under the section Challan Status Inquiry.