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

Current Context: Reserve Bank raised the Additional Factor of Authentication limit from Rs 5,000 to Rs 15,000 per transaction.

• 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/-