It is a full stop to recurring auto-payments of bills, as the Reserve Bank of India (RBI) has stated that recurring transactions need an Additional Factor of Authentication (AFA) (done through One Time Passwords) along with the normal one-time registration process for auto-debits. The new rule became applicable on Friday. 

Vineet Saxena, partner, Banking, Financial Services and Insurance (BFSI) at Chokshi & Chokshi, LLP, decodes the play, and pay, by the new rules RBI guidelines policy.
 
Is there a limit of auto-recurring transactions, above a certain amount that will need additional authentication, now?
Any recurring transaction of an amount greater than Rs 5,000 will require Additional Factor Authentication (AFA) each time the amount is to be paid.