National
RBI Tightens Digital Payment Rules to Stop Unauthorized Subscription Charges Nationwide
The Reserve Bank of India has introduced stricter guidelines to curb online financial fraud, mandating that no new subscription payments can be deducted without explicit customer consent.
The Reserve Bank of India (RBI) has announced new regulations aimed at enhancing digital payment security across the country.
Under the revised guidelines, no new subscription charges will be deducted from a consumer’s account without prior explicit consent. The move is intended to curb online financial fraud and protect consumers from unauthorized debits.
The RBI’s decision follows growing concerns over digital payment scams and the need for stronger safeguards in the rapidly expanding online economy.
The new rules apply to all digital payment platforms and subscription services operating in India, ensuring that customers retain control over their financial transactions.
Under the revised guidelines, no new subscription charges will be deducted from a consumer’s account without prior explicit consent. The move is intended to curb online financial fraud and protect consumers from unauthorized debits.
The RBI’s decision follows growing concerns over digital payment scams and the need for stronger safeguards in the rapidly expanding online economy.
The new rules apply to all digital payment platforms and subscription services operating in India, ensuring that customers retain control over their financial transactions.