Finance
Big GuyRBI Makes Payments Easy: No OTPs for Small Bills, Yay!
Hey, folks! If you’re fed up with typing in those pesky OTPs every time you pay for Netflix or your gym membership, guess what? The RBI just made it easier! Now, payments under ₹15,000 are a breeze—no more OTPs! And for big stuff like insurance, you can go up to ₹1 lakh without breaking a sweat. Less hassle means more time for pizza, right?
few days ago | Sunainaa Chadha
Quick rundown
1.RBI simplifies recurring payments with new e-mandate rules.
2.No more OTPs for transactions up to ₹15,000.
3.Higher-value payments still require OTP for security.
4.Pre- and post-debit alerts keep you informed.
5.No charges for using e-mandates, ensuring cost-free convenience.
