Recurring pain: On RBI’s decision on auto-debit transactions

Synopsis: RBI must re-examine its auto-debit restrictions Introduction Recently, the Reserve Bank of India’s (RBI’s) new rules controlling recurring payments on credit or debit cards came into force. The new rules mandate advanced notification by banks to customers for executing recurring payments which are of value of ₹ 5,000 and above. It is meant for… Continue reading Recurring pain: On RBI’s decision on auto-debit transactions