HomeNewsBankingRBI extends the deadline for processing auto-debit payments

RBI extends the deadline for processing auto-debit payments

Contents

RBI extends the deadline for processing auto-debit payments

The Reserve Bank of India (RBI) has decided to extend the deadline for processing recurring online transactions for 6 months. prior to this, the deadline was 31st March 2021 and after extending, the customers and OTT players and other service providers will get a new deadline of September 30, 2021.

  • In order to protect customers from fraudulent transactions, RBI’s August 2019 framework was required to implement Additional Factor Authentication for recurring payments.

About Reserve Bank of India (RBI) –

Bank rate: 4.00%
Headquarters: Mumbai
Founder: British Raj
Governor: Shaktikanta Das

Follow on Social accounts

To Join Facebook PageJoin Us
To Join InstagramJoin Us

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Advertisement

Latest Articles