The Reserve Bank of India new rules that have been open for implementation for over an year came into effect. Bottom-line no auto debits more than 5000 rupees

The Reserve Bank of India new rules that have been open for implementation for over an year came into effect. Bottom-line no auto debits more than 5000 rupees a month without consent. This is a great consumer protection initiative but hurts large vendors as they have to seek consent every month.