{"id":129207,"date":"2022-01-04T09:56:59","date_gmt":"2022-01-04T09:56:59","guid":{"rendered":"https:\/\/www.edristi.in\/?p=129207"},"modified":"2022-01-04T09:57:02","modified_gmt":"2022-01-04T09:57:02","slug":"rbi-framework-on-offline-digital-payments","status":"publish","type":"post","link":"https:\/\/www.edristi.in\/hi\/%e0%a4%b9%e0%a5%8b%e0%a4%ae\/rbi-framework-on-offline-digital-payments\/","title":{"rendered":"RBI Framework on Offline Digital Payments"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\"><strong>Question: What is the upper limit of transaction prescribed in RBI\u2019s framework on offline digital payments released on 3rd January 2022?<\/strong><br>(a) Rs 100<br>(b) Rs 200<br>(c) Rs 300<br>(d) Rs 2000<br><strong>Ans: b<br>Recent Context<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>On 3rd January 2022 the Reserve Bank of India (RBI) has released a framework for small-value offline transactions in the digital mode.<\/li><\/ul>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Related Facts<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>An offline payment refers to a transaction which does not require internet or telecom connectivity to take effect.<\/li><li>It has been brought to increase digital connectivity of economy in the country especially in rural sector.<\/li><\/ul>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Key Points of Framework<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>Offline payments may be made using any channel or instrument like cards, wallets or mobile devices, but they shall be made in proximity, or in the face-to-face mode only.<\/li><li>Offline payment transactions may be offered without an additional factor of authentication (AFA).<\/li><li>Payment instruments shall be enabled for offline transactions based on the explicit consent of the customer.<\/li><li>The upper limit of an offline payment transaction shall be 200.<\/li><li>The total limit for offline transactions on a payment instrument shall be2,000 at any point in time.<\/li><li>Replenishment of the used limit shall be allowed only in online mode with additional factor of authentication (AFA).<\/li><li>Customers shall have recourse to the RBI\u2019s integrated ombudsman scheme, as applicable, for grievance redressal.<\/li><\/ul>\n\n\n\n<p class=\"has-text-align-right wp-block-paragraph\"><strong>Kameshwar Shukla<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Reference:<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><a href=\"https:\/\/www.financialexpress.com\/industry\/banking-finance\/rbi-releases-framework-on-offline-digital-payments\/2397488\/\" target=\"_blank\" rel=\"noreferrer noopener\">https:\/\/www.financialexpress.com\/industry\/banking-finance\/rbi-releases-framework-on-offline-digital-payments\/2397488\/<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Question: What is the upper limit of transaction prescribed in RBI\u2019s framework on offline digital payments released on 3rd January 2022?(a) Rs 100(b) Rs 200(c) Rs 300(d) Rs 2000Ans: bRecent Context On 3rd January 2022 the Reserve Bank of India (RBI) has released a framework for small-value offline transactions in the digital mode. Related Facts [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":129208,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1089],"tags":[3721],"class_list":["post-129207","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-enew","tag-current-affairs-economics-news-en"],"_links":{"self":[{"href":"https:\/\/www.edristi.in\/hi\/%e0%a4%b9%e0%a5%8b%e0%a4%ae\/wp-json\/wp\/v2\/posts\/129207","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.edristi.in\/hi\/%e0%a4%b9%e0%a5%8b%e0%a4%ae\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.edristi.in\/hi\/%e0%a4%b9%e0%a5%8b%e0%a4%ae\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.edristi.in\/hi\/%e0%a4%b9%e0%a5%8b%e0%a4%ae\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.edristi.in\/hi\/%e0%a4%b9%e0%a5%8b%e0%a4%ae\/wp-json\/wp\/v2\/comments?post=129207"}],"version-history":[{"count":1,"href":"https:\/\/www.edristi.in\/hi\/%e0%a4%b9%e0%a5%8b%e0%a4%ae\/wp-json\/wp\/v2\/posts\/129207\/revisions"}],"predecessor-version":[{"id":129209,"href":"https:\/\/www.edristi.in\/hi\/%e0%a4%b9%e0%a5%8b%e0%a4%ae\/wp-json\/wp\/v2\/posts\/129207\/revisions\/129209"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.edristi.in\/hi\/%e0%a4%b9%e0%a5%8b%e0%a4%ae\/wp-json\/wp\/v2\/media\/129208"}],"wp:attachment":[{"href":"https:\/\/www.edristi.in\/hi\/%e0%a4%b9%e0%a5%8b%e0%a4%ae\/wp-json\/wp\/v2\/media?parent=129207"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.edristi.in\/hi\/%e0%a4%b9%e0%a5%8b%e0%a4%ae\/wp-json\/wp\/v2\/categories?post=129207"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.edristi.in\/hi\/%e0%a4%b9%e0%a5%8b%e0%a4%ae\/wp-json\/wp\/v2\/tags?post=129207"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}