Election Day- Use Code DEMOCRACY24

Register Now

RBI Increases limit of e-mandates for Transactions up to Rs 15,000

Published on June 17, 2022
Current Context: Reserve Bank raised the Additional Factor of Authentication limit from Rs 5,000 to Rs 15,000 per transaction.
RBI Increases limit of e-mandates for Transactions up to Rs 15,000
  • This limit applies to all e-mandates on cards, Prepaid Payment Instruments (PPIs), and UPI for recurring transactions.
  • The main objective of the E-mandate is that an individual can give standing instruction to the bank to debit a specific amount automatically on a recurring basis.
  • RBI also stated that additional authentication will not be needed for payment of Rs 15,000 per transaction.
  • Reserve Bank of India (RBI) has, over the past decade, put in place various safety and security measures for card payments, including the requirement of AFA.

Question:

Q.1 As per the recent RBI Circular the limit for the e-mandate transactions has been increased from 5000/- to _________from immediate effect?
a. 20,000/-
b. 15,000/-
c. 25,000/-
d. 10,000/-
ebook store

About us

ramandeep singh

Ramandeep Singh, your guide to banking and insurance exams. With 14 years of experience and 5000+ selections, Ramandeep understands the path to success, having transitioned himself from Dena Bank and SBI. He's passionate about helping you achieve your banking and insurance dreams.

  • Follow me:
Close Menu
Close Menu