Published On: Sep 28, 2021

RBI has set a rule for banks to take pre-authorisation from customers before deducting payments. From October 1, 2021, banks will not approve any standing instruction (e-mandate on cards for recurring transactions) given at merchant website/app on credit/debit card, unless it is as per RBI-compliant process. ET's Saloni Shukla tells you all about this new auto-debit rule. Watch  

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