Banks urge CCI review as chip shortage slows card issuance: Report

Facing a shortage of semiconductor chips, several banks have sought intervention by the government to address the issue which has affected the issuance of cards. in turn, affecting beneficiaries of the Pradhan Mantri Jan Dhan Yojana (PMJDY).

According to a report in The Economic Times, banks also suggested an investigation by the Competition Commission of India (CCI) to look into the business practices of chip suppliers.

Repeated Covid-19 shutdowns in China have hit supplies of chips, slowing issues of new cards. Banks are reportedly finding it difficult to provide cards to the new Pradhan Mantri Jan Dhan Yojana account holders.