The Reserve Bank of India has asked banks to incorporate photo of the accountholder on the debit card as a security feature.
However, the incorporation of the accountholder's photo on the debit card is not mandatory as of now, but usually RBI's recommendations ends up being a requirement for in the banking industry.
Making this recommendation, RBI is giving enough time to the banks to migrate their systems to one where debit cards can be issued with photographs. Among the lenders, Axis Bank has already incorporated photographs in its debit cards.
Under the RBI norms, banks should enter into contract with the accountholders wherein they are obligated not to record the PIN number or code in any form that would be accessible to any third party.
The customers are required to immediately notify the loss of card or unauthorized use. RBI said, "The cardholder shall bear the loss sustained up to the time of notification". And after the notification the onus is on banks to stop further use of the card.