The old magnetic cards may stop working this January

Image result for old magnetic stripe cards

Neighbourhood News Desk/ Garima Kotroo: The Reserve Bank Of India has issued a mandatory guideline to all banks across the country to eradicate old magnetic stripe cards as they can be removed easily.

As per the RBI directions, all magnetic stripe cards must be replaced by EMV chip cards by December 31, 2018, else the older magnetic stripe cards may stop working from January 1, 2019.

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