State Bank of India (SBI) has sought permission from the Indian banking regulator Reserve Bank of India (RBI) to launch contact-less debit cards, which would enable customers to carry out transactions of up to Rs 2000 without entering the ATM pin number at point-of-sale (PoS) terminals, reports Press Trust of India. RBI had made entering ATM pin at PoS and merchant outlets mandatory from December 1, 2013. Apparently, the bank is currently conducting a pilot project of such contactless cards at the Chennai and Mumbai metro stations. It’s worth noting that SBI had partnered Bangalore metro to launch NFC enabled debit cards that doubled up as travel smart cards, back in July 2011. SBI had also launched an e-debit card for e-commerce transactions in April 2012. Customers could use it for all online transactions and didn’t have to share the…
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