studygroup21@gmail.com, Banks To Decline Auto Pay Transactions From April 1

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Bank Update

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Mar 31, 2021, 8:29:17 AM3/31/21

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Banks To Decline Auto Pay Transactions From April 1

Banks are likely to decline auto payments from April 1 as all recurring transactions using cards and prepaid payment instruments will now require an additional factor of authentication, as per an RBI circular first issued in December 2020. Transactions above ₹ 5,000 will require an additional one-time password.