Rbi new online payment rule: The Reserve Bank of India has made some necessary changes to make digital payments more secure. Which will be implemented from April 1, 2026. RBI is going to do two-factor authentication in digital payments. Apart from SMS OTP, transactions will be identified in many new ways like password, fingerprint and biometrics. The RBI wants to make online transactions more secure and convenient in these ways. So that people can be protected from fraud and cybercrime.
RBI has announced that the new rules of digital payment will be implemented from April 1. The RBI has given strict guidelines that if the customers who do not follow these rules during these online payments, will have to make complete compensation for their losses themselves.
Which will be the new ways?
RBI has informed that in addition to SMS OTP, options like password, passfrez PIN, debit card, software token, fingerprint or biometrics can be used for two-factor authentication. RBI has clearly stated that two factor authentication will be mandatory, as well as SMS OTP can also be used.
Why is it needed?
The number of people making online payments in India is increasing every day, as well as the crime of cyber criminals. Today, almost everyone in India is using online payment mode. Online payment is being accepted today from small shops to vegetable carts. It has reached almost every hand in India today, but the problem stands there, where there is talk of protecting people from cyber criminals.
People often get cheated online and they lose their years of earnings. People are getting digital arrests and they are hesitant to inform the police and lose their hard earned money. Keeping all these things in mind, RBI has said to implement two-factor authentication.
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