RBI wants you to fill the entire card details for every online payment

Due to regulations by the Reserve Bank of India, automatic recurring payments may block some transactions and taking effect 30 June 2022, ‎Microsoft‎ will no longer be permitted to maintain debit or credit card details. You'll need to make manual payments in the ‎Microsoft 365 admin center‎.
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Found this on Microsoft admin center.
 

2. Considering various representations received from the industry stakeholders, it has been decided to extend the timeline for implementation of the following provisions of the Master Direction to October 01, 2022:

  1. Paragraph 6(a)(vi) - Card-issuers shall seek One Time Password (OTP) based consent from the cardholder for activating a credit card, if the same has not been activated by the customer for more than 30 days from the date of issuance. If no consent is received for activating the card, card-issuers shall close the credit card account without any cost to the customer within seven working days from date of seeking confirmation from the customer.
  2. Paragraph 6(b)(v) - Card-issuers shall ensure that the credit limit as sanctioned and advised to the cardholder is not breached at any point in time without seeking explicit consent from the cardholder.
  3. Paragraph 9(b)(ii) - No capitalization of unpaid charges/levies/taxes for charging/ compounding of interest.
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They should make a rule to send otp to mobile linked to PAN for any credit loan, card, bnpl etc.

I guess this OTP type rule is to deal with Dhani type scams who were sending cards to customer without consent.
 


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