New RBI rule on recurring payment not to impact transactions with compliant merchants

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New Delhi, Oct 7 | People looking forward to watching their favourite shows on OTT platforms such as Netflix, Amazon and others would not face any disruption in service over non-payment or delayed payment of subscription fee owing to new payment security feature made mandatory by the Reserve bank of India from this month.

Banking sector experts said that most of these merchants offering various bouquet of service have migrated to the new Standard Instruction Platform put in place by the banks in the country. This would mean that payment instruction to these compliant vendors would have to be revalidated once and it would move seamlessly in subsequent months without any hindrance to the service.

As part of measures to secure recurring transactions made by customers using their cards, the Reserve Bank of India (RBI) has mandated new auto-debit rules that have kicked in from October 1. The apex banks directive states that there will be no automatic recurring payment for various services including utility bills, recharge of phone, DTH, and OTT, among others as the additional factor of authentication (AFA) will become mandatory.

This created confusion initially as customers were flooded with messages to update their payment instruction or else such transactions would be declined from the beginning of October.

“We have not experienced any disruption in service or customer complaints over new system of recurring payments. Most banks are already compliant with new security measure and several large merchants have also updated their transaction systems and have joined the standard instruction platform of banks. Some merchants are still non compliant to the changes and customers would have to authorize payments under an additional factor of authentication (AFA),” said a senior executive from country’s largest private sector bank asking not to be named as he was not authorized to speak to media.

The new RBI rules will not impact any standing instructions registered using bank accounts for mutual funds, SIPs, equated monthly instalments. It will also not impact payment to complaint merchants.

Customers will have to go through a one-time registration process, and subsequent transactions can be performed without the additional factor authentication.

While registering, customers can now provide the validity period for future transactions. For recurring payments above Rs 5,000, banks are required to send a one-time password to customers as per the new guidelines.

Source: IANS

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Inspiring Journey of Rajasthan’s Deependra Singh Shekhawat From Monthly Salaries to Founder of Fifteen Crore Turnovers Company

Inspiring Journey of Rajasthan’s Deependra Singh Shekhawat From Monthly Salaries to Founder of Fifteen Crore Turnovers Company

Guy Kawasaki has rightly said that pursuing your passions makes you more interesting, and interesting people are enchanting. Passion is an underrated term as people believe more in hard work and dedication. We often forget that passion is what guides us to success. Deependra Singh Shekhawat is one of the few who proved that hurdles are hidden opportunities, and when utilized appropriately, they will lead you to victory.

Deependra Singh Shekhawat, being the son of a farmer, has the background of a middle-class family. He belongs to a small village of Udaipurwati, district Jhunjhunu of Rajasthan. However, his status never deterred him from dreaming. Dreams full of his passion gave him the strength to fight the battles in his life. After graduation, he initially started from a regular job. However, he was not content with his occupation. He sensed stagnancy in his career. Soon, he started thinking and strategizing about business. This thought process led him to join a renewable energy company, Adani Renewable Energy, to learn about business as the next step in his professional journey. From then on, there was no stopping him; he was on a roll. In 2015, he established Vertex Solution Company and became one of the top vendors of Adani Solar Energy. He went the extra mile by working with India’s well-known renewable energy organizations as Avada Sola, Tata Solar, O2 Power, and many more.

Deependra says that his passion for renewable energy spawns from the fact that renewable energy is one of the significant contributors to boosting the country’s economy and generating jobs. He further adds that adopting renewable sources of energy is a healthier option. He claims it is high time we start living peacefully with nature for the sanity of itself and humankind. Additionally, he has provided with job opportunities for the youth of his village Sarai and has become the Youth icon of Rajasthan. Despite belonging to a middle-class family, he left no stones unturned to achieve success and rose from the bottom of the pit to flying like an eagle. From having big dreams to making others’ dreams come true, he has come a long way.

His journey is inspiring hundreds and thousands of youngsters of middle-class families throughout the country. People are burning with passion after witnessing the change in his life. His life journey is constantly changing the lives of many for the best. He is igniting the fire of eagerness for victory in them.

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Recruitment Mantra to introduce its new job portal MyhireIndia for a seamless recruitment process

Recruitment Mantra to introduce its new job portal MyhireIndia for a seamless recruitment process

India witnessed massive downfall in the employment rate in the year 2020. Not only have the youth been denied equal job opportunities, but some of the upcoming job trends have also failed the modern age individuals.

Today, job sites are the most widely used portals used by individuals across the globe to find the right job that meets the qualification requirements. Every job is one search away. These portals have transformed the recruitment process to provide seamless and unified  experience to individuals.

Crediting the same, Recruitment Mantra is going to introduce their own job portal named myhireindia.com to enable recruiters and individuals find the best job as per their requirement. The portal will enable employers to post unlimited jobs in this portal and hire the right talented candidates as per their requirements at free of cost. Jobseekers can register and upload their CV in this portal free of cost and can also search and apply for unlimited job openings through this portal.

Emerging as one of the best job sites in India that acts as a bridge between recruiters and job seekers, the platform has uniquely been curated to serve as a comprehensive for both students and young professionals looking for employment opportunities in their preferred location.

As one of the best job portals in India, MyhireIndia allows its users to search for either internship or job opportunities within a few clicks. The company review section enables the users to go through the reviews from the companies registered on the platform to get a glimpse of the work-life at the firm behind the curtain.

  • Keyword search: The keyword search function available on job search sites allows users to look for his/her preferred jobs in a single-click just by typing in the job keyword like retail jobs, media, pharmacy job, etc. on the keyword search bar.
  • User-friendly interface: The job site is developed for the key purpose of making job searches easier for its users. A user-friendly interface allows users to browse through job opportunities in his/her preferred areas of life without losing his/her focus in doing the same.
  • Options to filter preferences: The filters available on the job site allow users to filter out their job preferences exactly according to their needs and requirements. You can filter out your job search with your location, salary, job type, and other preferences.
  • Easy application process: If a job site has a complicated application option for jobs, it will automatically receive backlash for its services. The platform serves an easy application option to users, allowing them to apply for jobs within minutes.

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