Now your money is 100% safe. SBI-BOB has imposed a lock on fraud, know these new rules:

News India Live, Digital Desk : Banking New Rules : Money has been withdrawn from your account…”, “Your card has been blocked, tell me the OTP…” – Such fraud calls and messages have become a part of everyone’s life today. Cases of online fraud and cyber fraud are increasing so fast that our hard-earned money of years can disappear in a minute. In view of this increasing threat, the two largest public sector banks of the country, State Bank of India (SBI) And Bank of Baroda (BOB) has taken some big and strict steps to protect its customers.

These banks have made changes in many rules, from withdrawing money to online transactions, so that it becomes almost impossible for fraudsters to break into your account.

SBI’s OTP ‘security cover’

SBI has made the process of withdrawing money from ATM safer than ever, especially more than ₹10,000 To withdraw the amount.

• What is the new rule?: Now if you withdraw an amount of ₹ 10,000 or more from SBI ATM, then just entering the debit card and PIN will not work. After entering the PIN, the ATM machine will ask you One Time Password (OTP) Will ask for it, which will be sent immediately to the mobile number registered with your bank.
• How will it work?: You have to enter that OTP on the ATM screen, and only then the cash will come out.
• What is the advantage?: Its biggest advantage is that even if someone steals or clones your ATM card and knows your PIN, he will not be able to withdraw money, because OTP will come on your mobile.

Positive Pay System of Bank of Baroda (BOB)

Bank of Baroda to prevent check fraud ‘Positive Pay System’ Has been made mandatory.

• What is the new rule?: Now if you ₹5 lakh or more If you issue a check for the amount of Rs. 10,000, then after cutting the check, you will have to give its information (like check number, date, amount and in whose name the check is issued) to the bank immediately.
• How to give information?: You can give this information through the bank’s mobile app, internet banking or by visiting the branch.
• What is the advantage?: When this check comes to the bank for payment, the bank will match it with the information given by you. If the information doesn’t match (like someone has changed the amount), the bank will immediately reject the check and your money will be saved.

These new rules may cause some inconvenience to you initially, but these are very important steps to protect your money. Your little awareness and following these rules can save you from falling into the trap of cyber fraudsters.