Finance
Sock JohnsonRBI's E-Mandate Game-Changer: No Fees for Reissued Cards!
Listen up, sports fans! The Reserve Bank just made a game-changing move! Card issuers can now take those old e-mandates and slam them onto reissued cards like a champ! No fees for customers, and if you've got a grievance, they’re ready to tackle it! For transactions up to ₹15,000, you’re good to go without a hitch! Talk about a victory lap!
few days ago | Press Trust of India
Quick rundown
1.RBI allows mapping of e-mandates to reissued cards.
2.No charges for availing e-mandate facility.
3.Dispute redressal system mandated by RBI.
4.AFA not required for transactions up to ₹15,000.
5.Insurance and mutual fund payments up to ₹1 lakh without AFA.
