Why there's acute shortage of ATM cards in PNB?
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In a branch, I saw them issuing ATM cards from 7 years old stock that’s going to expire in next 5 months.
I know dimers appropriated all the RuPay platinum cards but they have shortage of even the basic rupay cards.
Looking for some insider info why they are not able to acquire ATM card stocks.
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The customer base difference is quite huge in both entities. Credit card departments can spend freely over cards as the card is their primary product, which is not always the case with government banks.
Sare paise neerav modi le gaya…. Pnb walo ke
Even before opening account today, the PNB staff warned me it will take more than a month for your RuPay Platinum, 
Saraswat Bank flat out denied saying it is very out of stock.
This is purely because of @abhishek012 bro. He is encouraging all people by mentioning various methods of applying rupay platinum, leading to this acute shortage
the central bank of India did the same to me, they never delivered my RUPAY PLATINUM DEBIT CARD which i applied on December 2021.Bank saying, CHIP Shortage and i also thought like this problem is with Only PSU Bank and Not Private Banks also All Banks are delivering credit card without any issue. so,recently i filed a Complain in RBI against bank
Got any reply, you are our only hope ❤️
why u guys opening accounts in these useless psu banks? From my experience only sbi is good also offers zero balance account and no shortage of ATM cards.
Same situation in my Bank of India branch as well as Indian Bank besides PNB – public sector banks are worse hit by global chip shortage. Both BOI and Indian Bank staff told me they have RuPay Platinum applications from Oct-Nov. 2021 still pending. But some other PSB e.g. UCO Bank, Central Bank, Union Bank, and Cosmos Co-op Bank, I was able to get without much delay. Canara gave instant kit (non personalized).
Banking Sector Crisis: सेमीकंडक्टर चिप ने अटकाए लाखों डेबिट कार्ड; चिप की कमी के चलते बैंकिंग सेक्टर प्रभावित, लाखों खाताधारक परेशान: https://www.jagran.com/news/national-semiconduc...
Russian invasion of Ukraine affecting card chip prices as Ukraine is home to 2 companies that produce half of the world’s neon supply, a key ingredient in chips: https://www.paymentsdive.com/news/chip-shortage-drives-up-card-costs/624317/ In addition to covid affecting chip supply neon prices have skyrocketed since the Ukraine invasion.
Banks unable to issue ATM cards due to shortage of chips: https://english.mathrubhumi.com/news/kerala/banks-unable-to-issue-atm-cards-due-to-shortage-of-chips-1.6423809 Distributors who supply cards to banks are facing a hard time due to shortage of chips. Due to this banks are unable to supply new ATM cards to customers. Public sector banks facing more shortages.
IMHO, govt should take two steps to remediate this ASAP:
- Direct banks to issue virtual debit cards in their banking apps as this affects new as well as expired cards
- Introduce Aadhaar OTP-based UPI transactions as soon as possible, prepone it so UPI transactions for newly opened bank accounts become possible
Huh, is it so? Then I guess mobile SIM cards would also have the same fate… I wonder if mobile service providers are facing the same issue.
In BoB too. My cousin works there and have been saying this for last one year. Maybe region specific.