What changes will RBI’s new rules bring to digital payments from April 1?

India's digital payments are getting a security upgrade. From April 1, the Reserve Bank of India will require two-factor authentication for all digital transactions.

Key takeaways

Quick scan — what you need to know:

• India's digital payments are getting a security upgrade.
• From April 1, the Reserve Bank of India will require two-factor authentication for all digital transactions.
• This move aims to combat rising fraud risks.
• The new rules will incorporate dynamic elements like OTPs or biometrics.

Background

What led here, in plain terms:

• This strengthens India's payment system and aligns it with global security standards.
• India's digital payments are getting a security upgrade.
• From April 1, the Reserve Bank of India will require two-factor authentication for all digital transactions.
• This move aims to combat rising fraud risks.

Why it matters

Why readers and decision-makers should care:

• From April 1, the Reserve Bank of India will require two-factor authentication for all digital transactions.
• This move aims to combat rising fraud risks.
• The new rules will incorporate dynamic elements like OTPs or biometrics.