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
Nazara and ONDC set to transform in-game monetization with ‘
Nazara Technologies has teamed up with the Open Network for Digital Comme...
Jio Platforms and NICSI to offer cloud services to government
In a collaborative initiative, the National Informatics Centre Services In...
BSNL awards ₹5,000 Cr Project to RVNL-Led Consortium
A syndicate led by Rail Vikas Nigam Limited (abbreviated as RVNL), along wi...
Pinterest tracks users without consent, alleges complaint
A recent complaint alleges that Pinterest, the popular image-sharing platf...
E-Magazine
TECHNOTAINMENT
Netflix adds 'Moments' feature for saving, sharing scenes from
Netflix has introduced a new “Moments” feature on its mobile app, whic
Jacqueline Fernandez come together with YouTuber Mr. Beast for
Jacqueline Fernandez has partnered with American YouTuber Mr. Beast to b
MOVERS & SHAKERS
Visa elevates Rishi Chhabra as new Country Manager for India
Rishi holds a Master’s in Industrial Engineering from The Ohio State Univ
Genesys welcomes Albert Nel as Senior VP and Regional Sales Le
Genesys continues to deepen its investment in the APAC region. Earlier this
OPEN YOUR EYES
INTERVIEWS
Cisco building a trusted and resilient future for the nation
Security is foundational to everything Cisco does and customers insist on e
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
HOT PICK
SonicWall Launches TZ80: A Powerful Solution for Remote Office
SonicWall announced today the launch of the TZ80, a groundbreaking securit
Gigabyte X3D Turbo: A Gaming Revolution
GIGABYTE X3D Turbo Mode is a cutting-edge feature that unifies cores distr
MAKE IN INDIA BRANDS
SECUREYE SERVICES PVT. LTD.
DATA SAFEGUARD INDIA PRIVATE LIMITED
DIGISOL SYSTEMS LTD.
NUMERIC INDIA, A Group Brand Legrand
EMINENT CIO'S OF INDIA
ICONS OF INDIA
ICONS OF INDIA : RAJESH NAMBIAR
Rajesh leads the company’s India associates and enhances relationshi...
Icons Of India : NANDAN NILEKANI
Nandan Nilekani is the Co-Founder and Chairman of Infosys Technologies...
Icons Of India : MADHABI PURI BUCH
Madhabi Puri Buch is the first-female chairperson of India’s markets...
PARTNER SPEAKERS
PSU
BSE - Bombay Stock Exchange
The Bombay Stock Exchange (BSE) is one of India’s largest and oldest...
GSTN - Goods and Services Tax Network
GSTN provides shared IT infrastructure and service to both central and...
ECIL - Electronics Corporation of India Limited
ECIL is distinguished by its diverse technological capabilities and it...
VIDEOS
Top 25 Brands
Global Indian industry
Indian Tech Talent Excelling The Tech World - NIKESH ARORA, Chairman CEO - Palo Alto Networks
Nikesh Arora, the Chairman and CEO of Palo Alto Networks, is steering ...
Indian Tech Talent Excelling The Tech World - Dheeraj Pandey, CEO, DevRev
Dheeraj Pandey, Co-founder and CEO at DevRev , has a remarkable journe...
Indian Tech Talent Excelling The Tech World - JAY CHAUDHRY, CEO – Zscaler
Jay Chaudhry, an Indian-American technology entrepreneur, is the CEO a...
STARNITE AWARDS 2024
ITFORUM 2024
CMO of the Year
WOMEN LEADERSHIP
IMAGE GALLERY
TRENDS IN TECHNOLOGY
MORE VIDEOS
ADVERTISEMENTS
TECHNOLOGY DISRUPTION
UNICORNS REVOLUTIONISING
