The Reserve Bank of India (RBI) has raised the Additional Factor of Authentication (AFA) limit from Rs 5,000 to Rs 15,000 per transaction for e-mandates on cards, Prepaid Payment Instruments (PPIs) and Unified Payments Interface (UPI) for recurring transactions. It implies, additional authentication will not be need for payment of Rs 15,000 per transaction.
Buy Prime Test Series for all Banking, SSC, Insurance & other exams
The Reserve Bank of India (RBI) has, over the past decade, put in place various safety and security measures for card payments, including the requirement of AFA, especially for ‘card-not-present’ transactions. Under e-mandate, an individual can give standing instruction to the bank to debit a specific amount automatically on recurring basis.
Dhar has been selected for the Safe Cities Project 2026 and it marks the major…
The Athletics Integrity Unit (AIU) have upgraded the India to the Category A. This category…
Education has a long and rich history. Some universities in the world were built hundreds…
The Archaeological Survey of India (ASI) has started the important conservation operation at the Konark…
River islands are special landforms that form inside rivers when soil, sand, and small rocks…
UK Parliament has approved the Tobacco and Vapes Bill which will permanently ban the individuals…