Question

what are the recent changes introduced by
banks for safe use of plastic money ?​

Answer 1

The Prime Minister, Mr  Narendra Modi and his emphasis on Cashless Transaction, Initially positioned as a status  symbol ,these plastic cards have caught on in a big way amongst the educated population of  the country.

Answer 2

Answer:

The latest launch by the government was the EMV chip-based debit and credit cards in place of the old magnetic-stripe only cards. This has been done to increase the security of transactions and promote an efficient cashless economy.

The government introduced demonetisation in order to promote and encourage a cashless economy and also eradicate all the black money from the economy. However, it also has some recommended steps for ensuring the safety of plastic money.