Friday, September 30, 2022

Your account will be closed if you trade in crypto currencies, HDFC and SBI warns

Amidst the ongoing uncertainties regarding the business of crypto currency around the world, big news related to it has come to the fore. If you also trade in cryptocurrencies then your bank account can be permanently closed. In the last few years, the trend of this currency has increased in India too.

After the boom in cryptocurrencies, people have invested in cryptocurrencies in the hope of good returns. But, some big banks of the country have sent a warning message alerting the customers who deal in cryptocurrency.

These banks gave a warning

According to the report published in Bloomberg Quint, HDFC Bank Limited has officially warned its customers against transactions in virtual currency, according to the email sent by the banks. In this e-mail, customers have been questioned about transactions in virtual currency.

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HDFC Bank (HDFC Bank) and SBI Cards & Payment Services (SBI Cards & Payment Services) have warned of restrictions including permanent closure of accounts to many customers who deal in cryptocurrency.

please pay attention! 

In an e-mail sent by SBI Cards, it has been said that if its customers use their cards to transact in cryptocurrencies, their services may be cut. SBI Card said, ‘Please note, your credit card can be suspended according to the cardholder agreement entered into with us using your credit card for transactions on the virtual currency merchant platform.

Reserve Bank had imposed a ban

Let us tell you that three years ago in the year 2018, the Reserve Bank of India (RBI) stopped transactions in cryptocurrencies, which was later dismissed by the Supreme Court. After that decision, gradually the interest of people about this currency increased.

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