The Reserve Bank of India, in its \u2018Digital Payments \u2014 E-mandate Framework, 2026\u2019, announced updates to electronic auto-pay transactions via credit cards, debit cards, prepaid payment instruments (PPIs) and the Unified Payments Interface (UPI).<\/p>\n
In a release, it noted that the changes are in \u201cpublic interest\u201d and will be effective immediately for all payment system providers and participants when it comes to the processing of recurring and domestic or cross-border transactions<\/a> using cards, PPIs (i.e., wallets), and UPI.<\/p>\n It has also mandated that customers be given the option to choose or update the mode of receiving the pre-transaction alert <\/a>\u2014 via email, SMS or other options.Notably, the exception to the pre-transaction notification requirement applies to auto-replenishment of FASTag and National Common Mobility Card (NCMC) balances.Customers to bear no penalty for fraudFurther, banks and payment providers are now mandated to provide post-transaction notifications and formal grievance redressal systems.The RBI has also extended its zero-liability<\/a> policy for unauthorised electronic transactions to e-mandates. This ensures that customers are not held responsible for fraudulent debits, provided they report them in a timely manner.RBI proposes rules for digital wallets: Latest updates<\/p>\n Notably, the central bank last week also proposed new rules for digital wallets and prepaid tools, including general-purpose PPI, gift PPI, transit PPI, and PPIs for non-resident Indians (NRIs), covering commonly used facilities such as mobile wallets and other prepaid tools.<\/p>\n Among other proposals, RBI’s draft seeks to allow banks with permission to issue debit cards to issue PPIs after notifying the Department of Payment and Settlement Systems (DPSS) in Mumbai.<\/p>\n For General-purpose PPI, RBI proposed that the outstanding amount in such cases should not exceed \u20b92 lakh at any time. Cash loading in the general-purpose PPI may be restricted to \u20b910,000 per month.For Gift PPI, the draft said the maximum value of such a PPI may be capped at \u20b910,000; while in the case of transit PPI, it may be capped at \u20b93,000, it added.<\/p>\n Disclaimer: This story is for educational purposes only. We advise readers to check with certified experts before making any investment decisions.<\/p>\n","protected":false},"excerpt":{"rendered":"The Reserve Bank of India, in its \u2018Digital Payments \u2014 E-mandate Framework, 2026\u2019, announced updates to electronic auto-pay…\n","protected":false},"author":2,"featured_media":559255,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16],"tags":[31764,192021,192023,2306,189250,192022,22214,86,56,9905,54,55],"class_list":["post-559254","post","type-post","status-publish","format-standard","has-post-thumbnail","category-mobile","tag-digital-payments","tag-e-mandate-framework","tag-electronic-auto-pay-transactions","tag-mobile","tag-prepaid-payment-instruments","tag-recurring-transactions","tag-reserve-bank-of-india","tag-technology","tag-uk","tag-unified-payments-interface","tag-united-kingdom","tag-unitedkingdom"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/559254","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/comments?post=559254"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/559254\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media\/559255"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media?parent=559254"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/categories?post=559254"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/tags?post=559254"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}