RBI E-Mandate Rules: Easier High-Value Payments, Less OTP
Key Highlights
RBI’s new e-mandate rules simplify high-value payments by reducing OTP requirements, while keeping ₹15,000 threshold for everyday recurring transactions.
The Reserve Bank of India (RBI) has introduced new e-mandate rules aimed at simplifying high-value payments, significantly reducing the need for One-Time Passwords (OTPs) for certain transactions. This move is expected to create a smoother payment experience for consumers and businesses alike.
Under the revised guidelines, the standard threshold for everyday recurring payments, such as subscriptions for streaming services, utility bills, and gym memberships, remains unchanged at ₹15,000. These transactions will continue to be processed seamlessly without requiring an OTP, ensuring convenience for regular, lower-value payments.
The updated regulations focus on enhancing efficiency for higher-value transactions, which were previously subject to stricter OTP authentication, often causing delays and inconvenience. By adjusting these rules, the RBI aims to foster greater ease in the digital payment ecosystem without compromising security for essential recurring services.