In what could be the biggest card replacement move in Indian banking, the country’s largest lender State Bank of India has blocked the debit cards of six lakh customers as a pre-emptive measure to tackle a security breach, reports CNBC-TV18.
SBI, however, says there is no compromise of security at its servers. The bank claims there is a data leak at the outsourced processing agency of another private bank.
Visa and Mastercard had alerted SBI of the likely fraud and the bank as a pre-emptive measure chose to block the debit card of 6 lakh customers.
Axis Bank and Yes Bank have also reported security breaches in the last month although none of its customers have been impacted. HDFC Bank has also requested its customers to change their card pin to avoid any misuse.
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