Card network companies NPCI, Mastercard and Visa had informed various banks in India about a potential risk to some cards in India owing to a data breach. Accordingly, SBI has taken precautionary measures and have blocked cards of certain customers identified by the networks, said the bank in a statement.
Also, SBI said their system have not been compromised and existing card holders are not at any risk and can continue to use their cards. SBI is in the process of issuing new cards at no cost to those card holders whose cards have been blocked.
In another case of security breach, Axis Bank said it has filed a preliminary report about a malware attack to the Reserve Bank of India and hired EY to carry out an investigation.
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