RBI Introduces New E-Mandate Framework for Digital Payments

Original: RBI issues consolidated directions on Digital Payments - E-mandate framework

Business Standard•Apr 21, 20261 min

In a Nutshell

The Reserve Bank of India (RBI) has issued new directions for the Digital Payments E-mandate framework, effective immediately. These directions consolidate existing guidelines and introduce an additional authentication factor for processing digital transactions, enhancing security based on stakeholder feedback.

Key Points

01RBI's new directions on digital payments are effective immediately.
02The framework consolidates existing e-mandate instructions.
03An additional authentication factor is now mandatory for digital transactions.
04The changes were made in response to stakeholder feedback.
05The new guidelines aim to enhance the security of digital payments.

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Full Summary

The Reserve Bank of India (RBI) has announced the implementation of the Digital Payments E-mandate framework, effective immediately. This new directive consolidates existing instructions while incorporating minor changes based on feedback from stakeholders. A key highlight of the new framework is...

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Why It Matters

The new authentication requirement will enhance the security of digital transactions, potentially reducing fraud and increasing consumer confidence in digital payment systems.

Who is affected

Consumers and businesses engaging in digital transactions.

What to know

Users should familiarize themselves with the new authentication process to ensure smooth transactions.

FAQ

The framework aims to enhance the security of digital payments by consolidating existing guidelines and introducing additional authentication requirements.

The new directions are effective immediately.

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