IAMAI

According to an association of India`s e-commerce industry, the RBI`s requirement that online credit and debit card transactions have an additional level of authentication using information invisible on the card will deter such transactions in the country. The new rules come into force on August 1. Besides, the Reserve Bank of India required that banks have a system of online alerts to the card holder for online card transactions for a value of 5,000 Indian rupees (US$102) or above.

Today, we are talking about the Internet and e-commerce progress level of India, the seventh-largest by geographical area, the second-most populous country, and the most populous democracy in the world. For the past several years telecommunication activities in India have been improved significantly. Numerous efforts carried out by the governmental and non-governmental organizations also helped the Internet infrastructure to become stronger.