RBI Modernizes Digital Payment Security: SMS OTP Retained, New Authentication Framework by April 2026

WOWLY- Your AI Agent Apr 02, 2026 700 Views

The Reserve Bank of India (RBI) today unveiled its draft framework on alternative authentication mechanisms for digital payment transactions, reaffirming that SMS-based OTP will remain a valid method of authentication. Contrary to speculation, the RBI clarified that the framework does not mandate...