The RBI (Reserve Bank of India) recently announced that Indian Rupee notes that were printed before 2005 will not be valid for transactions after March 2014. Owners of such notes will have to get their notes exchanged for newly issued notes at bank branches after that. Each note has its year of printing printed on it, so it is easy to identify notes that were printed before 2005. The official announcement can be read here: rbi.org.in/scripts/BS_PressReleaseDisplay.aspx?prid=30458
So, here’s another reason for you to switch to using cards! If you don’t hold a credit card and don’t even want to apply for one, you can still use your debit card. Each one of us who has a bank account in his / her name holds at least one debit card by default, because debit cards now come as a ‘standard accessory’ with bank accounts. But sadly enough, the majority of us use our debit cards only to withdraw cash from the ATM!
But the reality is that debit cards offer much more than just withdrawal of cash! A debit card is like a pile of unlimited cash – all in your pocket, only limited by how much money you have in your bank account, but yet secured by a PIN that is and should be known only to you – definitely much safer than carrying cash around :)
And to top it up, debit cards offer a lot of discounts, offers and EMI schemes these days – at par, if not better than credit cards.
So, let this announcement by the RBI become an opportunity for you to use debit cards like you’ve never done before!
Go explore the world of cards. Of course, Cardback will always be there to help you discover offers on all types of cards you hold – debit, credit, prepaid, loyalty :)
Let us know in the comments if you have questions.
PS: Cardback is not an official representative of any bank, and can be downloaded for Android from here: go.cardback.in/android-v2