Page 2 - Additional Factor News Today

Learn about the RBIs introduction of card tokenisation facility at the bank level in Mumbai. Find out how this facility provides convenience for cardholders and improves transaction security.

UPI has emerged a preferred mode of payment for a large section of the population with over 11.23 billion transactions recorded in November. An announcement in this regard was made by Reserve Bank Governor Shaktikanta Das, while unveiling the December bi-monthly monetary policy last week.

RBI proposes to increase UPI auto payments limit to Rs 1 lakh without OTP for e-mandates like mutual fund subscriptions, insurance premiums, and credi

The governor was announcing the decision of the Monetary Policy Committee or MPC. The MPC has decided to hold the policy rate - the Repo Rate - at 6.5%. The central bank has been pausing since February this year. It has hiked rates by 2.5% before the pause to rein in inflation.

The central bank has proposed removing the Additional Factor of Authentication (AFA) requirement for transactions up to Rs 1 lakh for the following categories: Subscription to mutual funds; payment of insurance premium; and payments of credit card bills.

The Reserve Bank of India raised the transaction limit for small-value digital payments made in offline mode from...

Card and internet frauds were just Rs 87 crore involving 2,321 frauds during the April-September period of 2022-23, according to the RBI’s Report on Trend and Progress in Banking.

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The growing popularity of digital payments in India is proving to be a blessing not only for the common man but also the cyber-conmen, as per the latest figures revealed by RBI under RTI.

The RTI reply was given to Pune businessman Prafful P. Sarda, who had sought official details of all types of online-digital-cards frauds that Indian banks have suffered with invisible conmen duping lakhs of gullible customers since 2014.