FINMIN ASKS NOT TO PANIC, DEMANDS INFO FROM BANKS

New Delhi, Oct. 20: Seeking to calm worried customers following feared security breach of over 32 lakh debit cards of various banks, Union finance ministry on Thursday said they constitute only a small number of the total such cards which are “completely safe”, with no need for panic.

“Only about 0.5 per cent of total debit card details were compromised while remaining 99.5 cards are completely safe and bank customers should not panic,” Department of financial services additional secretary G. C. Murmu said.

There are around 60 crore debit cards operational in India, of which 19 crore are indigenously developed RuPay cards while the rest are Visa and Master Card enabled.

Since the data compromise has taken place from specific machine and specific time period, so it is just a limited issue and banks have asked their affected customers to replace their card or change PIN, he said, adding that other cards are not affected at all.

Concerned over security breach in 32 lakh debit cards of various banks, the finance ministry has sought details from lenders as also the additional steps that need to be taken to avert such incidents.