Regulations on auto-debit from tomorrow

New Delhi: The auto-debit facility is likely to be affected due to certain regulations coming into effect from tomorrow. The curbs, however, will not affect non-auto debit payments.

Auto debit payments, pre-instructed to foot monthly phone, and DTH bills, OTT platform subscriptions etc. could henceforth be made only with the consent of the debit/credit cardholder.

However, several banks are yet to make the necessary technical upgrades as instructed by the RBI, which might affect the auto payment. In such a scenario, the customer will have to visit the website concerned to complete the payment process. Banks, including SBI, have issued a statement in this regard.

Additionally, firms that are to receive the payments too need to upgrade their technology to facilitate auto-debit, which will also affect the payment.