Prevent auto-debit failures by registering once again, say experts

If bank and service provider are not compliant, pay manually, or give standing instruction linked to bank a/c

Mobile wallets may lose 40% users as KYC deadline ends
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EMIs paid from current accounts will also not be affected.

Bindisha Sarang
The Reserve Bank of India (RBI)-mandated changes to auto-debit rules have come into effect from today (October 1). There is a possibility that many of your recurring auto-debit payments may not go through.

Adhil Shetty, chief executive officer (CEO), BankBazaar, says, “The RBI has mandated the digital payments ecosystem to build and integrate into a common bill payment system, with a view to make cards-not-present transactions safer. The new rules apply to recurring payments via debit and credit cards, Unified Payments Interface (UPI), and prepaid cards.”

Recurring payments may not go through

Two things will happen.

Anand Kumar Bajaj, founder,

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First Published: Sep 30 2021 | 8:23 PM IST

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