RBI plans to do away with OTP based authentication. What we know so far
RBI has not expressed any desire to phase out authentication process completely but only the process of AFA (additional factor of authentication)
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India: RBI asks banks to stop relying on OTP-based authentication, look for safer alternatives
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Beyond OTP: RBI looking for other authentication methods
BENGALURU: To enhance the security of digital payments, the Reserve Bank of India (RBI) in its recent Monetary Policy Meeting (MPC) announced a principle-based
RBI Urges Banks to Find Alternatives to SMS-based OTP for Authentication | Mumbai News - Times of India
The RBI has asked regulated entities like banks to explore alternatives to SMS-based one-time passwords (OTPs) for second-factor authentication. Find out more about the options available and the need for stronger authentication methods.
timesofindia.indiatimes.com
more security for bank transfers. but no security for upi transfers.
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