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RBI New Rule For Auto online Payment From Your Debit Card, Credit Card, and Upi

Big news for online payment users. After the announcement of the Reserve Bank, it will no longer be easy to make auto payment of any bill from the bank or digital platform Debit Card

Credit Card and UPI. Now one has to ask permission from the customer before making any digital payment. This new rule is effective from 01 October

Now banks also as digital platforms like Paytm and Google Pay will need to take permission from the customer before making auto payment of any installment or bill.

Now these platforms will not be able to deduct the bank account amount without permission

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Upi digital payment services has increased significantly in the last few years

According to the rules issued by RBI during this regard earlier, the bank or digital platform will need to inform the purchasers by sending a message on the mobile phone 5 days before the date of payment

Not only this, but these platforms have to inform the customer 24 hours before the payment.

In the message sent to the customers, the date of payment, to whom the money is to be sent, all the information will have to be given.

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