Current Affairs · Banking Regulations
The Reserve Bank of India introduced updated provisions within the E-Mandate Framework for recurring payments. Which of the following core issues does this regulatory consolidation explicitly aim to address?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1The proliferation of high-value fraudulent peer-to-peer transfers and the lack of automated grievance redressal mechanisms for auto-recharges.
- 2The systemic risks of regulatory arbitrage and risk concentration stemming from unchecked variable amount mandates in inter-bank dealings.
- 3The excessive processing charges levied on customers for utilizing e-mandate facilities and the non-compliance of merchants with authentication limits.
- 4The prevalence of unauthorized auto-debits and the overall lack of customer awareness and control over recurring payments.✓
Correct answer
The prevalence of unauthorized auto-debits and the overall lack of customer awareness and control over recurring payments.
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