2019
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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RBI
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SBI
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Axis
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HDFC
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Detailed explanation-1: -Important Notice for processing of Standing Instructions (e-Mandate on cards for processing of recurring transactions) on your HDFC Bank Debit / Credit Card.
Detailed explanation-2: -Recurring card payments, ACH debit, and standing orders are all automatic payment methods used for collecting regular payments. Recurring card payments use credit and debit card networks, whereas ACH debit and standing orders are a form of bank-to-bank payment.
Detailed explanation-3: -The new RBI guidelines concerning recurring transactions came into effect on 1st October 2021. With the new guidelines, card holders can: Get greater autonomy for controlling their recurring payments made through credit cards and debit cards. Set the amount for recurring transactions beforehand.