With a customer base of over 5 million, SBI Card is the second largest credit card issuer in India.
Earlier this month, Citi India had banned used of its debit as well as credit card for purchasing crypto-currencies or virtual currencies.
In a message to customers on bitcoins/crypto-currencies, SBI Card said the Reserve Bank has issued advisories to financial institutions and public that it has not given any licence/authorisation to any entity to operate in crypto-currency schemes or any virtual currencies such as Bitcoins.
Citi India in a message to its customers had said it has banned usage of its debit and credit cards for purchase or trading of virtual currencies.
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"...Citi India has decided to not permit usage of its credit and debit cards towards purchase or trading of such bitcoins, crypto-currencies and virtual currencies," the message read.
Finance Minister Arun Jaitley in his budget speech had said the government does not consider crypto-currencies legal tender or coin and will take all measures to eliminate use of these crypto-assets in financing illegitimate activities or as part of the payment system.
The RBI has also clarified that it has not given any licence/authorisation to any entity/company to operate such schemes or deal with bitcoin or any virtual currency.