State Bank of India (SBI) has issued a warning to its customers. In this warning, the bank has warned its customers about a new type of cybercrime. The bank has said that in some frauds, customers have been asked for an OTP on their calls to defer their loan EMI. SBI said in a tweet, 'There is no need to share OTP to postpone EMI. Please do not share your OTP. '
The country's largest bank warned customers to share their OTPs, saying that the frauders immediately withdraw the customer's money if the customer shares the OTP with the fraudster.
People who are cybercrime continue to find new ways to swindle with them. The only way to deal with these people is to always be alert and aware. The bank said in the tweet, 'Keep in mind that there is no need to share OTP to avoid EMI. Please do not share your OTP. Visit the bank's website for more information about the EMI avoidance plan.
SBI had informed the customers that if they do not want to postpone EMI then they need not do anything at their level. At the same time, customers who want to postpone EMI will have to submit an application to the bank through an email. Also that during the period during which the EMI will be deferred, interest will continue to be charged on the principal amount.
The Reserve Bank of India offered to postpone EMI for individual and business debtors to keep the debtors' economic situation stable amidst the ongoing lockdowns across the country to prevent the spread of the coronavirus. In this scheme, customers have been offered to postpone monthly payments for three months.
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