Background
- At the moment, the authentication of digital payment in India is supported by SMS-based OTP (One Time Password).
- The single-channel authentication has weaknesses, as demonstrated by the increasing frauds like SIM-swap attack, phishing attack, and OTP interception.
- RBI is focused on the global best practices and reinforcement of the dynamic digital payments environment in India.
Month: Current Affairs - October 03, 2025
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