RBI changes auto-debit rules: Here’s what it means for your monthly bills, SIPs and other recurring payments
New Delhi: The Reserve Bank of India ( RBI ) has made significant changes to auto-debit rules. According to the central bank, the move is aimed at protecting customers' interests. These changes will make the auto-debit system more secure and transparent than before. These rules will directly benefit millions of people whose EMIs, subscriptions, or bills are automatically deducted from their accounts every month. These new rules, issued under the "Digital Payments - e-Mandate Framework, 2026," apply to all recurring payments, such as subscriptions, utility bills, and mutual fund (SIP) payments. Under the new rules, customers must register once before…