Q45: In December 2024, the Additional Factor of Authentication (AFA) exemption limit for e-mandates was increased to ₹1 lakh, for which specific categories of recurring transactions?

Mutual fund subscriptions, insurance premiums, and credit card bill payments

Utility bill payments, loan EMIs, and rent payments

All Person-to-Merchant (P2M) transactions

All UPI and PPI wallet transactions

✅ Correct Answer: A

In December 2024, the AFA exemption limit for e-mandates was increased to ₹1 lakh for three specific categories: mutual fund subscriptions, insurance premium payments, and credit card bill payments.

This policy change facilitates ease of payments as noted in the RBI's Payment Systems Report - June 2025.

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Q45: In December 2024, the Additional Factor of Authentication (AFA) exemption limit for e-mandates was increased to ₹1 lakh, for which specific categories of recurring transactions?

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