RBI

Editor's note: Here is an excerpt from Ravi Subramanian’s latest book, Don’t Tell The Governor. Subramanian, who mostly pens stories about the financial world, has already written nine books. In this book he tells the fictional story of a character named Aditya Kesavan, who becomes the newest chief of RBI and deals with dangerous challenges as he copes with his new job and the finance ministry of India. Subramanian has previously won the Economist Crossword Book Award for three years in a row as well as the Golden Quill…

The changing of auto-debit rules by the Reserve Bank of India (RBI) has impacted many users especially those with recurring payments. One such set of users are Apple App Store, Apple ID users that requires monthly auto debiting of a fixed amount to run the services smoothly. Earlier, we used to add our credit or debit cards to the portal and it tends to debit the recurring amount every month when it’s due but the change has tumbled it. Like the Apple users, Netflix, Google and other…