SBI Card cautions customers against Bitcoin investment
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SBI Card today cautioned customers of risks associated with bitcoin and other crypto-currencies, but did not ban use of its credit card for such investments. With a customer base of over 5 million, SBI Card is the second largest credit card issuer in India. ESBI Card cautions customers against Bitcoin investment
SBI Card today cautioned customers of risks associated with bitcoin and other crypto-currencies, but did not ban use of its credit card for such investments. With a customer base of over 5 million, SBI Card is the second largest credit card issuer in India. Earlier this month, Citi India had banned used of its debit as well as credit card for purchasing crypto-currencies or virtual currencies. In a message to customers on bitcoins/crypto-currencies, SBI Card said the Reserve Bank has issued advisories to financial institutions and public that it has not given any licence/authorisation to any entity to operate in crypto-currency schemes or any virtual currencies such as Bitcoins. «Given concerns, both globally and locally, SBI Card would like to advise you to be mindful of potential economic, financial, operational, legal, customer protection and security related risks associated in dealing with crypto-currencies and virtual currencies,» it said. Citi India in a message to its ... Read more