Question

Which of the following statements accurately reflects the recent draft circular proposed by the Reserve Bank of India (RB

  • I regarding digital payments?
A The new draft circular proposes the elimination of authentication for all transactions to simplify digital payments.
B The draft circular mandates a single authentication factor for transactions under ₹15,000 and exempts transactions over ₹1 lakh from this requirement.
C The RBI draft circular requires an additional authentication factor that must be dynamic and used only once, with exemptions for specific types of transactions.
D The draft circular suggests that all digital payments should be processed without customer consent for new authentication factors.
E The proposal includes exempting all insurance premiums from the new authentication requirements, regardless of the amount.
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