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Recently in June 2022, The Reserve Bank of India raised the Additional Factor of Authentication (AFA) limit from Rs. 5,000 to __________ per transaction for e-mandates on cards, Prepaid Payment Instruments (PPIs) and UPI for recurring transactions.
Rs. 10,000
Rs. 25,000
Rs. 30,000
Rs. 15,000
None of these
- In June 2022, the Reserve Bank of India made a change regarding recurring transactions.
- They increased the Additional Factor of Authentication (AFA) limit.
- Previously, the limit was set at Rs. 5,000 per transaction for e-mandates on cards, Prepaid Payment Instruments (PPIs), and UPI.
- The raised limit is now specified at Rs. 15,000 per transaction.
- This adjustment aims to make recurring transactions smoother, while still ensuring security.
- The increase helps users manage larger recurring expenses efficiently without additional authentication hassles.
The correct Answer is Option 4: Rs. 15,000.
By: Parvesh Mehta ProfileResourcesReport error
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