Question
Consider the following statements with respect to the
amendments in the limits of e-mandates by the Reserve Bank of India- I.The Reserve Bank of India (RBI) will be making an upward revision in the limit of e-mandates for recurring online transactions without Additional Factor of Authentication (AFA) to Rs 1 lakh from the existing Rs 15,000 for subscription to mutual funds, payment of insurance premium, and payments of credit card bills. II.The framework for processing of e-mandates for recurring transactions was introduced in August 2017 to balance the safety and security of digital transactions with customer convenience. III.The number of e-mandates registered currently stands at 9.5 crore, processing nearly Rs 2,800 crores of transactions per month Which of the following statements is/are correct?Solution
The Reserve Bank of India (RBI) will release a circular marking the upward revision in the limit of e-mandates for recurring online transactions without Additional Factor of Authentication (AFA) to Rs 1 lakh from the existing Rs 15,000 for subscription to mutual funds, payment of insurance premium, and payments of credit card bills.The framework for processing of e-mandates for recurring transactions was introduced in August 2019 to balance the safety and security of digital transactions with customer convenience. The number of e-mandates registered currently stands at 8.5 crore, processing nearly Rs 2,800 crores of transactions per month.
According to the Economic Survey 2023-24, which country delayed its ban on petrol and diesel vehicles from 2030 to 2035 due to trade-offs in climate pol...
Who was recently elected as the President of the Institute of Cost Accountants of India (ICMAI) for the term 2024-25?
Leprosy, also known as Hansen’s disease, is a chronic disease caused by ?
In which city were the first-ever methanol-powered buses introduced by Nitin Gadkari?
Who authored the book Poverty and Un-British Rule in India?
Which of the following is the correct sequence of the location of sea ports of India from South to North?
In which city will the IBSA Blind Football Intercontinental Cup 2023 be organized?
Which dynasty is considered to have started the Syalde Bikhoti Fair in Almora?
Who is credited with introducing Local Self Government in India?
In the largest hockey stadium of the country was inaugurated in?
