Photo: Pradeep Gaur/MintMumbai: Leading private sector lenders have been actively asking their customers to sign up for third-party services to protect their wallets in case of loss or theft. Five private sector lenders, including HDFC Bank, ICICI Bank, Axis Bank, Kotak Mahindra Bank and IndusInd Bank, have been actively selling the offerings of service providers such as SBI Cards Pvt. Call centres of these private sector lenders are reaching out to customers through in-bound calls and advertising these products, allowing them to insure themselves against loss of wallet or cases of phishing or other online frauds. According to Kapoor, his bank is proactively selling these to its debit card and credit card customers. As the extent of the impact is unknown as of now, the private sector lenders haven’t initiated a card replacement programme yet.

Source: Mint November 02, 2016 06:14 UTC