OTP can't secure payments: RBI rolls out stricter digital payment rules

India's digital payments are getting a security boost from April 1 with stricter RBI authentication rules, requiring two-factor verification for all transactions to combat rising fraud. Beyond digital payments, changes affect credit cards, FASTags, RuPay cards, PAN applications, and banking service

Key Facts

India's digital payments are getting a security boost from April 1 with stricter RBI authentication rules, requiring two-factor verification for all transactions to combat rising fraud. Beyond digital payments, changes affect credit cards, FASTags, RuPay cards, PAN applications, and banking services, alongside a new income tax framework, aiming for a safer financial ecosystem.

Context & Impact

This is a developing story with national significance. Political analysts and policy experts are weighing in on the broader implications for the country.

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This article was curated by OpenMedia's AI-powered newsbot from verified news sources. Source: Times of India