No OTPs required for transactions under Rs 2000, says RBI

Navjot Singh

The Punisher
  • OTP isn't mandatory for online transactions below Rs. 2,000
  • Customers opting for this facility will have a one-time registration
  • Authorised card networks will bear liability in event of any breach
In this model, the card issuing banks will offer the payment authentication solutions of the respective card networks to their customers on an optional basis.

RBI further said "suitable velocity checks (how many such small value transactions will be allowed in a day/week/month may be put in place by banks/card networks as considered appropriate."
No More OTP for Online Transactions Under Rs. 2,000, Says RBI


Currently Citibank doesnt ask for OTP if the transaction value is lower than 5k, However HDFC bank would ask for OTP for any amount.

What about ticket bookings on IRCTC? IRCTC had made OTP mandatory for ticket bookings? Will they change the rule now?


I hope the amount is customizable at account level. I would personally prefer this for transactions under 500. Small recharges & stuff basically.


What nonsense, this country is full of idiotic scammers , someone can easily record your debit card details , i used to keep a tape on the card security code but recently it kept getting rejected in ATMs so had to remove it .