Question Bank - Current Affaires

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RBI, in June 2022, raised the Additional Factor of Authentication (AFA) limit from Rs 5,000 to Rs ________ per transaction for e-mandates on cards, Prepaid Payment Instruments, and UPI for recurring transactions.

A.
7,500
B.
10,000
C.
12, 500
D.
15,000

Solution:

The correct answer is 15,000. RBI on 16 June 2022 raised the Additional Factor of Authentication (AFA) limit from Rs 5,000 to Rs 15,000 per transaction for e-mandates on cards, Prepaid Payment Instruments, and UPI for recurring transactions. It implies additional authentication will not be needed for payment of Rs 15,000 per transaction. RBI:RBI Governor - Shaktikanta DasRBI Headquarters - Mumbai, MaharashtraFounded: 1 April 1935, Kolkata. The Bank publishes two statutory reports, the Annual Report of the Bank and the Report on Trend and Progress of Banking in India. It also publishes Financial Stability Report.

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