New RBI guidelines for processing automatic payments

The Reserve Bank of India on Wednesday extended the timeline for processing recurring online transactions by six months till September 30, 2021. The decision was taken to prevent any inconvenience to the customers. The RBI's notification pertains to debit or credit card standing instructions given or registered with the third party service providers for OTT payments, utility bills, subscriptions. Watch the video for more.

Also Read: Debit, credit card auto payment: RBI deadline for processing recurring transactions extended till Sept 30