The change has been forced due to a recent RBI mandate regarding recurring payments. The new mandate requires banks and financial institutions to implement an additional factor of authentication for such payments. For those unaware, the Reserve Bank of India had announced the new framework back in 2019. However, the deadline for implementation of the same was extended to September 30, 2021. The initial limit for transactions was also set at Rs. 2,000, but was later revised to include transactions up to Rs. 5,000 instead.
