Current Affairs

Canara Bank Becomes First PSB to Meet RBIs EMV Mandate

Canara Bank has successfully rolled out major new functionality to support EMV card acquiring across its ATM network and Aadhaar Authentication.
Canara Bank Becomes First PSB to Meet RBIs EMV Mandate

Details:

  • Canara Bank, with nearly 6,300 branches and a network of more than 10,000 ATMs, is the first public sector bank to shift to EMV chip and PIN for card present transactions across the country's vast ATM network.

What is an EMV Chip?

  • EMV stands for Europay, MasterCard, Visa, the three organisations that developed and established EMV as the global standard for chip-based credit and debit transactions.
  • The EMV standard helps to maximise security and global interoperability so that Visa cards can continue to be accepted around the world.

Question:

Q. Which PSB has become the first in the country to successfully roll out major new functionality to support EMV card acquiring across its ATM network and Aadhaar Authentication?
a. State Bank of India
b. Bank of Baroda
c. Canara Bank 
d. Indian Bank
Canara Bank Becomes First PSB to Meet RBIs EMV Mandate Canara Bank Becomes First PSB to Meet RBIs EMV Mandate Reviewed by Shweta Kashyap on April 20, 2019 Rating: 5

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