Board Exam Result 2019

SBI threatens to stop net banking facility for some account holders after December 1, know why

New Delhi, News Nation Bureau | Updated : 15 November 2018, 08:45 AM
SBI threatens to stop net banking facility for some account holders, know why
SBI threatens to stop net banking facility for some account holders, know why

The State Bank of India (SBI) recently issued a notification asking customers to link their bank accounts with their mobile numbers. The notification states that net banking facility will be blocked for those SBI account holders who have not updated their number with the bank and are still doing online transactions. As per the notification on SBI official website, it is mandatory for users to register mobile number for availing net banking services, failing which the bank may block account holders' access to Internet Banking Services. Customers need to register their mobile numbers before December 1, 2018 by visiting any nearest branch of the bank.

Read More | Pakistan: 22.5 million children out of school, majority of them girls

Why is SBI threatening to block this service?

According to a Reserve Bank of India (RBI) advisory, it is mandatory to register mobile number in order to avail of the Internet Banking Services. Thus, in the interest of its customers, SBI has taken this step in the interest of its customers to protect them from ongoing banking frauds.

Bank will notify transaction details, will prevent fraud

If bank account holders register their mobile phone number with SBI, then the bank will inform them immediately of each and every transactions that happen in their account via SMS. So, it is in benefit of the bank account holders to register their mobile number, which may save them from losing money unknowingly. 

Also Read | Deepika Ranveer Wedding: Here’s why their wedding is a closed affair

Update mobile number by visiting the nearest bank branch

Customers need to register their mobile numbers before December 1, 2018 by visiting any nearest branch of the bank.

First Published: Wednesday, November 14, 2018 03:18 PM
For all the latest Business News Download the News Nation App available on Android and iOS.