How the RBI Ban on Recurring Payments Affects Businesses Across The Board

Hosted by Chirag Chinnappa 
Edited by Manasi Nene 

In September of this year, the RBI rolled out its mandate for customers to authenticate auto-debit recurring card-based payments. This affects all recurring payments and subscriptions that debit money every month from your bank account-from your OTT subscriptions to your donation for the social cause of your choice. Now, you have to confirm each transaction, every time it takes place.

Now, you have to confirm each transaction, every time it takes place. So what are the larger implications for businesses that depend on auto-payments? How are banks handling this change? Why did the RBI introduce this mandate in the first place? And how does this impact the social sector?

To understand more, we spoke to Advait Rao Paleppu, Financial Journalist at The Morning Context and Ingrid Srinath, Founder-Director at the Centre for Social Impact and Philosophy at Ashoka University.

Chirag is the Co-Founder of and Chief Editor at The Bastion. Most of his work is fuelled by dinner-table conversations where adults hold unwavering beliefs and an even stronger will to listen selectively.
Manasi is a writer, filmmaker, and musician who is keen on exploring issues of education, technology and community mental health. She has also been active in the beatboxing and slam poetry communities of India. Off-the-clock, she can be found cycling, daydreaming, or daydreaming about cycling. Manasi works as The Bastion's Multimedia Associate.

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