RBI allows recurring transactions up to ..... on cards from Sep 1.

2019

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

RBI allows recurring transactions up to ____ on cards from Sep 1.

A	4600
B	2500
C	2000
D	3400

Explanation:

Detailed explanation-1: -Due to Reserve Bank of India (RBI) regulations, automatic payments in India will be limited to ₹5,000 INR per transaction. The e-mandate notification also requires Google to set up an e-mandate for your card.

Detailed explanation-2: -The Reserve Bank of India (RBI) has directed that banks will need to create tokens for all debit and credit card details used in online, point-of-sale and in-app transactions with effect from October 1, 2022.

Detailed explanation-3: -2. On a review of implementation of the e-mandate framework and the protection available to customers, it has been decided to increase the aforesaid AFA limit from ₹5,000/- to ₹15,000/- per transaction. 3.

There is 1 question to complete.