RBI has increased the limit for e-mandates for recurring payments to Rs 15,000 from___________?
In its bi-monthly “Statement on Developmental and Regulatory Policies” the Reserve Bank of India (RBI) has increased the limit for e-mandates for recurring payments to Rs 15,000 from Rs 5,000. The framework on processing of e-mandate based recurring payments, inter-alia, provides for an Additional Factor of Authentication (AFA) during registration, sending a pre-debit notification, subsequent recurring transactions to be executed without AFA, and an easier avenue to withdraw such mandates. Benefits to customers: Increasing cap on e-mandate for card recurring payment will benefit customers. The maximum limit for without-AFA e-mandates was Rs 5000 earlier. This meant that for subscriptions, a recurring payment up to Rs 5000 could be done without any Additional Factor of Authentication (AFA) like OTPs. For payments beyond that, the customer had to enter the OTP. But with the limit now extended to Rs 15000, the process of subscription payments will become more hassle-free and convenient.
Which state/UT has ranked 1 in the Employee Provident Fund Organisation (EPFO) coverage per cent across the country?
Which of the following state government had signed to take Rs 4000 cr loan from ADB to set up medical colleges in its 12 districts?
Why is November 26th observed as Constitution Day in India?
The_________ and Airbus signed an MoU to facilitate increased collaboration in developing education programmes focusing more on research to foster tal...
Recently RC Lahoti has died. Who was he?
India's leading bourse NSE has emerged as the world’s largest derivatives exchange group in 2023 by the number of contracts traded, according to the F...
The United Kingdom entered into a joint investment package with ________worth £1.25 billion to secure the future of Port Talbot operations in Wales & r...
Discount Brokerage platform Sky offers brokerage services at ₹20 per trade for intraday and delivery transactions across segments & additionally wil...
What is the reason behind the withdrawal of the Cashless Treatment Scheme in Emergency (CTSE) by Indian Railways?
___________ has inaugurated 'Digi Zone' as part of its effort to enhance its digital footprint.