RBI allows offline digital payments upto Rs 200 per transaction
By MYBRANDBOOK
The Reserve Bank of India (RBI) issued a framework allowing offline payments up to Rs 200 per transaction to an overall limit of Rs 2,000, to push digital transactions in rural and semi-urban areas.
Under the offline mode, payments can be carried out face-to-face using any channel or instrument like cards, wallets, and mobile devices. These transactions will not require an additional factor of authentication.
The central bank said, “Since the transactions are offline, alerts will be received by the customer after a time lag. Balance replenishment can only occur in an online mode.” The offline mode of payment can be enabled only after obtaining specific consent of the customer. Customers will enjoy protection under the provisions of circulars limiting customer liability issued by Reserve Bank.
It further stated, “The issuer shall send transaction alerts to users as soon as transaction details are received. There is no compulsion to send alerts for each transaction. However, details of each transaction should be adequately conveyed. The acquirer shall incur all liabilities arising out of technical or transaction security issues at merchant’s end.”
BREAKING NEWS
TECHNO TRENDS
Legal Battle Over IT Act Intensifies Amid Musk’s India Plans
The outcome of the legal dispute between X Corp and the Indian government c...
Wipro inks 10-year deal with Phoenix Group's ReAssure UK worth
The agreement, executed through Wipro and its 100% subsidiary,...
Centre announces that DPDP Rules nearing Finalisation by April
The government seeks to refine the rules for robust data protection, ensuri...
Home Ministry cracks down on PoS agents in digital arrest scam
Digital arrest scams are a growing cybercrime where victims are coerced or ...
E-Magazine
TECHNOTAINMENT
Hrithik Roshan to endorse RuPay as Brand Ambassador
RuPay is reportedly planning to feature Bollywood superstar Hrithik Rosha
India Today Group launches – AI Pop Stars
Staying true to our industry leadership position in using cutting-edge tech
MOVERS & SHAKERS
TelioLabs ropes in Phaniraj V A as the Group CEO
TelioLabs has announced the onboarding of Phaniraj V A as its new Group CE
Wipro Appoints Amit Kumar as Managing Partner and Global Head
Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO), a leading technology s
OPEN YOUR EYES
INTERVIEWS
Bolstering its commitment to help build a truly self-reliant B
CP PLUS is dedicated to spreading a sense of security to every corner of In
Alpha Max offers high end solutions in the network space to en
The vision at Alpha Max is to attain quality as the trademark and create a
HOT PICK
MSI Announces the availability of RTX 50 series of laptops in
MSI, the innovative computing manufacturer in gaming, creator
Nothing Phone (3a) goes on sale today, starting at Rs 19,999
The phone was launched on March 4, featuring a 50MP main, ultra-wide, and t
MAKE IN INDIA BRANDS
ADITYA INFOTECH LTD.
DIGISOL SYSTEMS LTD.
BHARAT ELECTRONICS LTD.
VVDN TECHNOLOGIES
EMINENT CIO'S OF INDIA
ICONS OF INDIA
Icons Of India : Puneet Chandok
Puneet Chandok is President, Microsoft India & South Asia and is respo...
ICONS OF INDIA : RISHAD PREMJI
Rishad Premji is Executive Chairman of Wipro Limited, a $11.3 billion ...
ICONS OF INDIA : SUNIL BHARTI MITTAL
Sunil Bharti Mittal is the Founder and Chairman of Bharti Enterprises,...
PARTNER SPEAKERS
PSU
RailTel Corporation of India Limited
RailTel is a leading telecommunications infrastructure provider in Ind...
DRDO - Defence Research and Development Organisation
DRDO responsible for the development of technology for use by the mili...
NPCI - National Payments Corporation of India
NPCI is an umbrella organization for operating retail payments and set...
VIDEOS
Top 25 Brands
Global Indian industry
Indian Tech Talent Excelling The Tech World - ARVIND KRISHNA, CEO – IBM
Arvind Krishna, an Indian-American business executive, serves as the C...
Indian Tech Talent Excelling The Tech World - Sundar Pichai, CEO- Alphabet Inc.
Sundar Pichai, the CEO of Google and its parent company Alphabet Inc.,...
Indian Tech Talent Excelling The Tech World - AJAY BANGA, President - World Bank
Ajay Banga is an Indian-born American business executive who currently...
ITFORUM 2025
CMO of the Year
WOMEN LEADERSHIP
IMAGE GALLERY
TRENDS IN TECHNOLOGY
MORE VIDEOS
ADVERTISEMENTS
TECHNOLOGY DISRUPTION
UNICORNS REVOLUTIONISING
of images belongs to the respective copyright holders
