Watch | Ranbir Kapoor expresses discontent over RBI's ‘recurring payment system’; Netizens react
Yeh Jawaani Hai Deewani actor asked the audience why "the process is not smooth?". Actor Bobby Deol, co-star of Kappor's upcoming film Animal then suggested he take an 'annual' subscription to get rid of all inconvenience. Several users reacted to the video with some sharing dissatisfaction with the RBI's recurring payment system while others found the transaction norm valid.
Ranbir Kapoor's 'Animal' expected to earn ₹50 crore on opening day A user in the comment section of the video post wrote, "I had to stop using apps that charge in USD because of this. The cards were getting rejected and I was getting penalised for late payments. That's why even Apple removed the card option completely due to RBI changes".
Another user wrote, "RBI will have to be tagged. Don’t think they are checking Twitter regularly". "My card mandates worked fine forever, no monthly OTP required.
Is this specific to business users or something?", a X user asked on the same post. In 2021, RBI launched the New Recurring Payment Rules under which subscription-based app users will be required to give their consent and go through a two-factor authentication process for every payment above ₹5,000. The RBI had said that recurring transactions using debit cards, credit cards, Unified Payments Interface (UPI) or other prepaid payment instruments (PPIs) will need additional factor authentication (AFA).
Read more on livemint.com
