Keep Your Money Safe Email Alert

The Reserve Bank of India issued guidelines to inform consumers of their cash transactions with cards via emails. The central bank has acted in the correct and most needed time. The mankind has evolved from the ancient times in a drastic way. These are days where we get large results from small things. There was an age of stones. This is the age of cards. Most people whatever be their social status, financial condition etc, holds many a number of cards for their daily transactions. In the case of financial transactions there are different types of cards for their credit solutions. The credit and debit card are familiar to all doing cash transactions.

One of the leading public sector bank in India has opened its 25000th ATM in a rural area. This is the sign of growing public trust and confidence in the easiest way of handling cash. People love to carry the power in their hands. The power of money in a small card gives them security. But these cards have many negative points. I am not going to describe them as many of us would be familiar with them. The timely intervention of RBI can be treated as a good one, but I seriously doubt that it is belated.

The aim of RBI by issuing the guideline to give alert the customers of their financial card-based transactions is to check fraud. It is undoubted that the internet has been a big revolution. But as every good thing begets many bad things, the internet is also a place of great frauds. Email is an easy way to communicate. But what is to be communicated gains much importance. We gets many mails in our spam folders. It is sometimes very difficult to identify which are the legit things and which are not. Email scam is known to the netizens. Most people fell pray even now in these communications. Even RBI has warned people of such fraud mails given under the colour of public authorities like RBI.

People love to move faster during this age. This is because the world is fast changing. There is a lot of commercial transactions. Every single individual carries out many transactions with his money on a single day. The internet is a fastest place for him for carrying out his financial transactions. The banks have also turned on its green signals for internet banking. The present guideline by RBI is based on many incidents of fraudulent withdrawals in ATMs. The central bank also like to inform every online transactions. This will encourage people to do more transactions with their cards. The point I could gather from this guidelines is that RBIs initiative is good and will stick to its essence. But I can only say that this is a method of showing transparency in banking transactions. I don't think that this will stop fraud. It will continue in some way. The initiative of RBI is only aimed at transparent consumer relationship. Encouraging the use of cards will further ease the business pressure of every banks. So the pressure is back on the customers once again. We have to keep our money safe. They are still using the an insecure medium to show their transparency. On the other hand by increasing ATM cabins and holding many number of powers in our hand will only increase the pressure and tension in us. It is the customers who have to be careful now. Any how I am backing the measure of RBI to inform people of every financial transactions. But never forget that we have evolved drastically. So keep your money safe. It is your turn to act.