RBI exempts recurring payments above ₹15,000 from repeated OTPs
The RBI just made life easier for anyone dealing with big recurring payments.
Starting April 21, 2026, you won't need to enter a one-time password (OTP) every time you pay more than ₹15,000 for things like SIPs, insurance premiums, or automatic credit card bills up to ₹1 lakh.
This update is all about hassle-free high-value transactions.
E-mandates up to ₹1L, 24 hours alerts
Now, you can set up e-mandates up to ₹1 lakh for SIPs and insurance without repeated OTPs, though subscriptions and utility bills are still capped at ₹15,000.
You'll get a heads-up 24 hours before money is debited so you can pause or cancel if needed (except for retail shopping, National Common Mobility Card and FASTag recharges).
Partner at law firm Cyril Amarchand Mangaldas Shatrajit Banerji summed it up nicely: The new system is more user-friendly and allows for better control over transactions.