Reserve Bank of India is considering removing two-factor authentication requirement for small-value transactions up to Rs. 3,000 (roughly $47 USD) The stated goal is to facilitate easier electronic transactions for consumers. Security experts fear the initiative may actually increase fraud. The Reserve Bank is the first central bank to introduce such a process of scaling back authentication methods on electronic transactions. Experts say CISOs need to be prepared for an increase in electronic transactions and the need to scan them more thoroughly for anomalous behavior.”]
Source: https://www.cuinfosecurity.com/rbi-to-ease-transaction-security-a-7748