MANU/RMIC/0348/2015

Ministry : Reserve Bank of India

Department/Board : Department of Payment and Settlement Systems

Circular No. : DPSS.CO.PD.No.448/02.14.003/2015-2016
                   RBI/2015-2016/163

Date : 27.08.2015

Notification/ Circulars Referred : Circular DPSS (CO) PD No.2112/02.14.003/2014-15 dated May 07, 2015 MANU/RMIC/0178/2015

Citing Reference:
Circular DPSS (CO) PD No.2112/02.14.003/2014-15 dated May 07, 2015 MANU/RMIC/0178/2015  Referred

All Scheduled Commercial Banks including RRBs /
Co-operative Banks / State Co-operative Banks /
Central Co-operative Banks / Authorised Card Payment Networks

Dear Madam / Sir,

Security and Risk Mitigation Measures for Card Present and Electronic Payment Transactions - Issuance of EMV Chip and PIN Cards

A reference is invited to our circular DPSS (CO) PD No.2112/02.14.003/2014-15 dated May 07, 2015 on the captioned subject wherein directives were issued that with effect from September 01, 2015 all new cards issued - debit and credit, domestic and international - by banks shall be EMV Chip and Pin based cards.

2. In this regard, representations have been received from various banks expressing difficulties in meeting this timeline on account of existing stock of magnetic stripe only cards with their branches. Further, banks have also indicated that more time is required for completion of certification process for issuance of EMV Chip and Pin cards.

3. Accordingly, it has been decided to grant extension of time for issuance of EMV Chip and Pin cards as under:

Sr. No.	Type of Card/s	Time extended upto
(i)