As per regulatory guidelines on ‘Processing of e-mandate on cards for recurring transactions’, several requirements are mandated for processing recurring transactions registered on Debit & Credit Cards. Under these guidelines, customers can schedule automated debits up to INR 15,000 without the need...
The card-issuer shall ensure adherence to the guidelines on ‘Managing Risks and Code of Conduct in Outsourcing of Financial Services by banks’, as amended from time to time. Card-issuers shall ensure that cash backs, discounts and other offers advertised by a co-branding partne...
Who can save cards as per the new guidelines? Is customer consent required for saving / creating a token? Can this token be used along with other payment gateways? What integration changes do I need to do as a Razorpay merchant? Have more queries? Get a free consultation from our experts...
Detailed guidelines in this regard would be issued shortly. III. Payment and Settlement Systems 5. Operation of Pre-Sanctioned Credit Lines at Banks through the UPI Unified Payments Interface (UPI) is a robust payments platform supporting an array of features. Presently it handles 75% of the ...
1. Guidelines for digital lending to protect borrowers issued by RBI. As per the new guidelines by RBI, regulated entities cannot store borrowers' data except for some basic minimal information. The lender can now only store information like the name, address, contact details of the customer, ...
Monitoring readiness to comply with Reserve Bank of India (RBI) Guidelines Jan 2024 | Version 24.01 Copyright © 2023, Oracle and/or its affiliates PURPOSE This technical white-paper provides an overview of Database Activity Monitoring requirements for compliance with the RBI Guidelines on Cyber ...
However, in June 2019 following concerns raised by the industry, RBI went on to clarify theguidelines: What data should be stored in India?The central bank elaborated on data that had to be stored in India mandatorily: Customer data: Name, mobile number, email, Aadhaar number, PAN number, ...
Restoring Credit The credit cards business is booming, but so are user complaints. The RBI steps in with guidelines to stem the growing harassment of card users. money today checks out how far the guidelines go.Puja Mehra
BNPL models relying on prepaid cards to be discontinued:BNPL models which were working on disbursal to prepaid payment instruments (PPIs) like prepaid cards or mobile wallets are nevertheless impacted, given the DL guidelines require disbursals directly to the ‘bank account’ of the borrower. Her...
Companies issuing PPIs mustcomplywith RBI guidelines. These include customer verification processes, transaction limits, and maintaining a certain level of liquidity. The RBImandatescertain consumer protection measures, including ensuring the security of transactions and offering grievance redressal mechanisms. ...