RBI Proposes Unified View of Recurring Payment Mandates
Why in the news
The central bank suggested a single window where a user can see every standing instruction running across different payment channels.
Key facts
- Proposal: unified, interoperable view of all recurring mandates (standing instructions).
- Platforms covered: UPI, credit cards (Visa, Mastercard) and payment aggregators.
- UPI volume: 87 crore mandates created in February 2026.
- Aim: transparency and customer protection.
| RBI digital initiative | Use |
|---|---|
| Digital Payments Intelligence Platform | Real-time risk scoring |
| UPI Help (AI tool) | Grievance redressal |
| MuleHunter (AI tool) | Fraud detection |
| Unified Lending Interface | Part of expanding DPI |
Background
- A mandate is a recurring auto-debit instruction.
- Interoperability means different systems working together smoothly.
Exam angle
- Regulator behind the proposal: RBI.
- Fraud-detection tool: MuleHunter.
- Real-time risk scoring: Digital Payments Intelligence Platform.