Effective October 2021, all standing instructions on your credit or debit card will need additional factor authentication. Customers can also set monetary limits and even cancel or modify their mandates online. This will apply to insurance payments, electricity, telephone payments etc. However, these restrictions will not apply to mutual fund SIPs and various EMI mandates for loans. AFA is mandatory for auto debit above Rs.5,000.
Effective October 2021, all standing instructions on your credit or debit card will need additional factor authentication. Customers can also set monetary limits and even cancel or modify their mandates online. This will apply to insurance payments, electricity, telephone payments etc. However, these restrictions will not apply to mutual fund SIPs and various EMI mandates for loans. AFA is mandatory for auto debit above Rs.5,000.