Auto-debit payments facility for utility bills, OTT subscriptions won't fail from April 1, RBI extends deadline
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RBI has laid to rest fears regarding auto-debit payments for utility bills and over-the-top (OTT) subscriptions that was likely to fail from April 1. The deadline on RBI's new rule on additional factor of authentication that requires banks to send a one-time password (OTP) to customers to validate transactions above Rs 5,000 has been now postponed to September 30, 2021.