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RBI extends deadline for processing auto-debit payments by 6 months
Updated On: 31 March, 2021 12:00 AM IST | Mumbai | ANI
The requirement of additional factor of authentication made digital payments in India safe and secure.
A security staff stands near an entrance of the Reserve Bank of India (RBI) headquarters in Mumbai on August 7, 2019. Pic/AFP
The Reserve Bank of India (RBI) on Wednesday extended the timeline for processing recurring online transactions by six months to September 30.
In August 2019, the RBI had issued a framework for processing of e-mandates on recurring online transactions. Initially applicable to cards and wallets, the framework was extended in January 2020 to cover Unified Payments Interface (UPI) transactions as well.
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