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Tech giants brace for impact in India as new payments rule goes into effect

TechCrunch
 2021-09-30

Cover picture for the articleThe Reserve Bank of India’s directive, which goes into effect on Friday, requires banks, financial institutions and payment gateways to obtain additional approval for auto-renewables transactions worth over 5,000 Indian rupees ($67) from users by conducting notifications, e-mandates and Additional Factors of Authentication (AFA). The directive impacts all such transactions for...

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