Now Block ATM Card by SMS for any Bank

Reserve Bank of India(RBI) propose a new Common Toll free Number to Block ATM Card by SMS block for any all Bank in India. RBI has proposed several measures including introduction of a system under which a person would be able to block his stolen ATM card through a SMS. These form part of the recommendations of the Committee on Customer Service in Banks, constituted under chairmanship of former SEBI chairman M. Damodaran, by RBI last year.
In its report, the Damodaran committee proposed “instant blocking of ATM card through SMS-block for lost/misused cards.” It is expected to help people who currently are required to call up the bank in case of card loss. “If an ATM card has been misused by another person, on receipt of SMS about use of the card, the customer should be able to immediately send return SMS to block the card with a single word like ‘BLOCK’ to prevent further withdrawals. The committee also suggested creation of a single common toll free call number for customer services for all banks. “The Indian Banking Association (IBA) should consider a toll free Common Call Center number for all banks. A customer would ring that number and thereafter get diverted to the bank concerned,” it added. Hope this new facility will be implemented soon in India and customer will get a relief as at present customer have to suffer a lot for blocking the lost ATM/Debit card.