Processing of e-mandates for recurring transactions - আরবিআই - Reserve Bank of India
Processing of e-mandates for recurring transactions
RBI/2023-2024/88 CO.DPSS.POLC.No.S-882 / 02.14.003 / 2023-24 December 12, 2023 The Chairman / Managing Director / Chief Executive Officer All Scheduled Commercial Banks, including Regional Rural Banks / Urban Co-operative Banks / State Co-operative Banks / District Central Co-operative Banks / Payments Banks / Small Finance Banks / Local Area Banks / Non-bank Prepaid Payment Instrument issuers / Authorised Card Payment Networks / National Payments Corporation of India
Madam / Dear Sir,
Processing of e-mandates for recurring transactions A reference is invited to our circular CO.DPSS.POLC.No.S-518/02.14.003/2022-23 dated June 16, 2022 in terms of which relaxation in Additional Factor of Authentication (AFA) was permitted while processing e-mandates / standing instructions on cards, Prepaid Payment Instruments and Unified Payments Interface, for subsequent recurring transactions with values up to ₹ 15,000/-, subject to conditions listed therein.
Yours faithfully, (Gunveer Singh) |